Twins owners halt sale of team in shocking move to keep club in the family
NY Post
The Minnesota Twins are no longer for sale, executive chair Joe Pohlad announced Wednesday on behalf of his family.
After exploring a variety of options since publicizing the sale 10 months ago, the Pohlad family will remain the principal owner of the club and add new investors instead.
Carl Pohlad, a banking magnate and the late grandfather of Joe Pohlad, bought the Twins in 1984 for $44 million.
“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,” Joe Pohlad said in his announcement. “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.”
Pohlad said the family was in the process of adding two “significant” limited partnership groups to bring in fresh ideas, bolster critical partnerships and shape the long-term vision of the franchise that relocated to Minnesota in 1961 after originating as the Washington Senators.
Details about the new investors were being kept private until Major League Baseball approves the transactions, Pohlad said.
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