Twins, estimated to be worth between $1.5 billion and $2 billion, are listed for sale

The Minnesota Twins announced Thursday that they are for sale, potentially ending one of the longest-standing ownership relationships in Major League Baseball.

The Pohlad family, which bought the Twins for $44 million in 1984, said it has hired Allen & Company, the investment banker that typically facilitates the sale of sports franchises. The twins are estimated to be worth between $1.5 billion and $2 billion.

“After months of careful consideration, our family made the decision this summer to explore selling the Twins,” the team said in a statement. “As we move into the next phase of this process, it is time to make this decision public.”

Since moving from Washington, D.C. to Minnesota in 1961, the Twins have been owned only by Calvin Griffith and the Pohlads, whose patriarch Carl purchased the team, passed it on to his son Jim, and is currently controlled by his grandson Joe.

Only the New York Yankees, Chicago White Sox and Philadelphia Phillies have been under the same ownership longer than the Twins.

The Pohlads enjoyed great success early in their tenure, winning the World Series in 1987 and 1991. However, in 2001, the MLB threatened to contract them and the Montreal Expos due to financial difficulties in the sport – a false plan that ultimately failed.

While the Twins have had success in the regular season this century – making the postseason 10 times in 25 tries – they haven't advanced beyond the division series since 2002 and are coming off a disappointing 82-80 season that included a Der September 18's collapse kept them out of the postseason.

The most recent sale of an MLB team – the Baltimore Orioles to David Rubenstein over the summer – was valued at $1.725 billion. The last previous sale was Steve Cohen's $2.4 billion purchase of the New York Mets in 2020.

The Los Angeles Angels and Washington Nationals have sought sales in recent years but have taken their teams off the market. The collapse of much of the regional sports networks, which contributed billions of dollars annually to the industry, has created financial uncertainty within the sport. The Twins are among the affected teams, and it was announced this week that MLB will produce and broadcast Twins games next season.