9:44pm: Dan Hayes of The Athletic writes that the Pohlads remain firm in their $1.7 billion ask. Hayes adds that while the Pohlads have indeed received interest from multiple parties, they’ve also heard a few concerns — including the collapse of their local TV deal with FanDuel Sports Networks and the upwards of $425MM in debt which the organization has accrued. Those interested in the process are encouraged to read Hayes’ column in full for more details.
8:14pm: The Twins have been for sale at least dating back to last October. Those efforts seemed to stall in February, as perceived frontrunner Justin Ishbia dropped his pursuit in favor of taking a larger minority share of the White Sox under Jerry Reinsdorf.
That opened some question about whether the Pohlad family might pull the franchise off the market entirely. That still doesn’t appear likely. Phil Miller of The Minnesota Star-Tribune reports that the Pohlads have welcomed several potential buyers to Target Field this month. While there’s no indication that any formal offers have been made, Miller writes that one source suggested the process was nearer to a conclusion than its beginning.
In March, The Athletic reported that the Pohlads had an asking price of at least $1.7 billion. Around the same time, Forbes estimated the Minnesota organization was worth roughly $1.5 billion in its annual franchise valuations. CBNC placed a $1.65 billion evaluation in mid-April, more closely aligning with the reported asking price.
Carl Pohlad purchased the team for $44MM back in 1984. After Carl Pohlad died in 2009, his son Jim took control. Jim Pohlad turned over operations to his nephew, Joe, in November 2022.