Twins ownership won't sell MLB team after exploring sale: 'Part of our family story'

The Pohlad family initially announced plans to accept offers in October

The Minnesota Twins will not be sold. The Pohlad family announced Wednesday morning that they will keep control of the franchise after exploring a sale over the last several months. They will instead add two limited partners.

Here is the letter the Pohlad family issued Wednesday:

"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."

Earlier this month, it was reported that "momentum" was building for a sale and commissioner Rob Manfred went as far as to hint at a sale while speaking with reporters at the All-Star Game last month. Obviously things have changed.

"I know some things that you don't know," Manfred told reporters last month. "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."

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.

Justin Ishbia, one of the owners of the NBA's Phoenix Suns, appeared to be the favorite to purchase the Twins earlier this year, though he instead pivoted to increasing his stake in the AL Central rival Chicago White Sox. As part of his White Sox deal, Ishbia has a path to replacing longtime owner Jerry Reinsdorf as the team's primary owner.

Carl Pohlad bought the Twins for $44 million in 1984. Jim Pohlad, Carl's son, took over as chairman following Carl's death in 2009. The Twins ran a franchise-record $167 million payroll in 2023. In part due to uncertainty with the regional sports network landscape, payroll was slashed to $133 million in 2024 and projects to fall into the $136 million range following this year's trade deadline fire sale.

Most notably, the Twins sent Carlos Correa back to the Houston Astros and agreed to pay $33 million of the $104 million remaining on his contract to facilitate the trade. Rentals Harrison Bader, Willi Castro, Danny Coulombe, Ty France, and Chris Paddack were traded, as were controllable relievers Jhoan Duran, Griffin Jax, Brock Stewart, and Louie Varland.

The Twins are 56-63 and 7 ½ games behind the third wild card spot. They won a postseason series for the first time since 2002 two years ago, and are now barreling toward their second straight postseason-less season.