Twins Owners to Explore Sale of MLB Franchise; Reportedly Valued at $1.7B

After missing the playoffs for the third time in the last four years, the Minnesota Twins could be on the verge of a major change.

The Pohlad family, which owns the Twins, announced Thursday in a statement it intends to explore the sale of the franchise:

According to Scott Soshnick and Kurt Badenhausen of Sportico, the Pohlad family has retained investment bank Allen & Company to explore the possibility of selling the franchise. Sportico values the Twins to be worth $1.7 billion.

The Pohlad family has owned the Twins for the last forty years, making it the fourth-longest-tenured ownership in MLB behind the New York Yankees (1973), Chicago White Sox (1981) and Philadelphia Phillies (1981).

Soshnick and Badenhausen noted that team sales in MLB have become a rarity, with only five since the Los Angeles Dodgers were sold for $2.15 billion in 2012. Most recently, the Baltimore Orioles were sold to a consortium led by David Rubenstein for $1.725 billion in 2023. In 2020, Steve Cohen set an MLB record by paying $2.42 billion to purchase the New York Mets.

The Pohlad family saw early success upon purchasing the Twins, winning the World Series twice in the first eight years of ownership. However, after winning the 1991 title, Minnesota didn't make the playoffs again until 2002 and made just 10 postseason appearances over the next 22 years.

The Twins appeared to be headed for a second straight trip to the playoffs after 2023's run to the ALDS, but they went 12-26 down the stretch on their way to finishing with an 82-80 record, falling short of a wild-card spot. General manager Thad Levine announced last week that he was departing the organization, but the club will retain Rocco Baldelli as manager for a seventh season.

If the Pohlad family finds the right price for the franchise, it appears that the Twins will be embarking on a new era soon.