Despite rumors that a sale was imminent, plus a massive sell-off of some their top players at the MLB trade deadline, Minnesota Twins Executive Chair Joe Pohlad announced Wednesday that the team will not be sold.
Pohlad writes in a statement that his family will remain the principal owner of the Twins and that they're in the process of adding "two significant limited partnership groups."
Those deals need MLB approval. Pohlad added the ownership group is committed to building a wining team and culture.
Earlier this month, "momentum" was reportedly building for a sale. Even MLB commissioner Rob Manfred went as far as to say a sale was imminent while speaking with reporters at the All-Star Game.
"I know some things that you don't know," Manfred said in July. "I can tell you with a lot of confidence that there will be a transaction there, and it will be consistent with the kind of pricing that has taken place. There will be a transaction. We just need to be patient while they rework."
But former Twins beat writer and current USA Today baseball insider Bob Nightengale says fans may have read too much into that.
"You know, he was kind of careful with his wording when you look back, he said, 'I'm confident a transaction will take place.' He didn't say a sales and transaction," says Nightengale.
Pohlad told the Minneota Star Tribune, "I couldn't imagine a better outcome," which still seems a far cry from announcing they were exploring a sale just 10 months ago.
"Yeah, I'm sure he's thinking, I can't imagine a better outcome because they're still own the team," Nightengale adds. "It's gonna keep going up and now they got more money to go along with it. So it's a great outcome for the Pohlad family."
The Pohlads initially announced in October that they were exploring a sale. Five months later, in March, Forbes valued the team at $1.5 billion.
The Twins are on track for their one of their lowest attendance totals in 16 seasons at Target Field, and an ownership-mandated payroll reduction last year, among other factors, has contributed to a dissatisfied customer base. The Twins traded 10 players off their roster leading up to the July 31 deadline, furthering the frustration.
Word that the Pohlads are staying put certainly won't help the morale of Minnesota baseball fans, who've been waiting for another World Series title since 1991 and already have responded with a lot of negativity towards the move on social media. Many fans were already upset after the team decided to cut payroll by $30 million two years ago - following the team's first postseason series win in two decades - and then decimating the roster by 40% at this years trade deadline.
Nightengale believe Wednesday's news won't sit well with them either.
"Obviously this is about money saving, about moves, and now it's 'OK, what's next?' The tenants this year should go down as the lowest in Target Field history, and I'm sure the, season ticket sales will be the lowest since you moved to Target Field."
Full Letter from the Pohlad Family
“For more than four decades, our family has had the privilege of owning the Minnesota Twins. This franchise has become part of our family story, as it has for our employees, our players, this community, and Twins fans everywhere.
"Over the past several months, we explored a wide range of potential investment and ownership opportunities. Our focus throughout has been on what’s best for the long-term future of the Twins. We have been fully open to all possibilities.
"After a detailed and robust process, our family will remain the principal owner of the Minnesota Twins. To strengthen the club in a rapidly evolving sports landscape – one that demands strong partnerships, fresh ideas, and long-term vision – we are in the process of adding two significant limited partnership groups, each of whom will bring a wealth of experience and share our family values.
"We see and hear the passion from our partners, the community, and Twins fans. That passion inspires us. This ownership group is committed to building a winning team and culture for this region, one that Twins fans are proud to cheer for.”