It was an interesting 2025 for the Minnesota Twins and their owners, the Pohlad family.
It began with an announcement that they were exploring selling the franchise, which they have owned since 1984, in October of 2024. 10 month later, and plenty of speculation later, the Pohlads then announced they were keeping majority ownership of the team and instead welcoming in some new investors.
We are finally learning who those new investors will be and it includes a change in leadership with Tom Pohlad succeeding Joe Pohlad, formerly the team's Executive Chair, in overseeing the Twins organization. Tom is Joe's older brother. Pending MLB approval, Tom Pohlad will also succeed Jim Pohlad, becoming the franchise’s Control Person and serving as the primary contact to the league.
“It is a profound honor to have the opportunity to continue a legacy that has been part of my family — and this community — for the past forty years,” said Tom Pohlad. “My uncle and my brother have led this organization with integrity, dedication, and a genuine love for the game. As I assume my new role, I do so with great respect for our history and a clear focus on the future — one defined by accountability and stewardship in our relentless pursuit of a championship.”
The deal is reportedly worth 20% of the team's $1.75 billion valuation and adds three new people to the ownership advisory board. The announcement comes after approval from Major League Baseball.
The new principal investors include Glick Family Investments and George G. Hicks, investing alongside several prominent Minnesota business leaders. Craig Leipold, majority owner and principal investor in Minnesota Sports & Entertainment (MSE) and the Minnesota Wild, is also joining independently as a limited partner.
“As a lifelong Twins fan, I am honored and excited to join the Pohlad family as a steward of this beloved franchise,” said Hicks. “Like many in the state, some of my favorite memories are of times spent watching and cheering for the Twins. The leaders I represent share these values and recognize the importance of Twins baseball to our communities. This is the opportunity of a lifetime and one we view as a true privilege and responsibility.”
All three are acquiring non-controlling, minority interests in the Twins, with the Pohlad family retaining ownership control and responsibility for day-to-day operations.
“It has been one of the greatest responsibilities and privileges of my life to work alongside the people in this organization and to serve our fans,” said Joe Pohlad. “As we begin this next chapter in our ownership of the Twins, I will be stepping away from my day-to-day role. I will continue to champion our employees and Twins Territory as our organization moves forward.”
Tom Pohlad is a name that is not as familiar to Twins fans and hasn't had a front-facing position inside the organization previously. He is the outgoing Executive Chairman of Pohlad Companies, where he led the Family Board and oversaw strategic direction of the family’s diverse portfolio of businesses. Before that role, Tom held leadership positions across several Pohlad businesses.
There were several reports that the Pohlads took on a significant amount of debt, somewhere in the neighborhood of $500 million, over the last several years. That, and declining TV revenues with the loss of distribution from Bally Sports/FanDuel, made it difficult to sell the team outright. A recent report from The Athletic points to COVID and declining attendance as the main drivers for the debt with ownership continuing to pay employees all throughout the pandemic even when games weren't being played.
The team on the field certainly felt the effects of the debt. Coming off their most successful postseason in two decades in 2023, the team cut payroll going into 2024, something the fanbase was not enamored with. A bad finish in 2024 and missing the playoffs set the stage for another season of disappointment in 2025.
Then came a trade deadline selloff that sent almost the entire bullpen scattered around the league, along with anyone with an expiring contract - and then taking pennies for star shortstop Carlos Correa just so they could shed his big contract.
There's hope that new investment in the team, and shedding the debt, will allow for new investment on the field. Already, there are reports the Twins plan to keep their three biggest current names on the roster despite more trade rumors: Byron Buxton, Pablo Lopez, and Joe Ryan.