Ted Schwerzler | MinnesotaSportsFan.com
The Pohlad family has owned the Minnesota Twins since 1984, but the relationship between ownership and the fanbase has been strained for much of those 40+ years. So far, we’ve had four different family members (through multiple generations) take the spot as top Pohlad in charge.
Obviously, Carl Pohlad first purchased the team from Calvin Griffith, who brought the Senators here from Washington, D.C., in 1960 and changed their name from the Senators to the Twins (first season in MN was 1961). Carl then ran the team from 1984-2009, when he handed the organization off to his son, Jim Pohlad, who did the same until November 2022.
The new generation of Pohlad…
That’s when the reins were given to Joe Pohlad, Jim’s nephew. Joe’s time in the big chair is remembered for signing Carlos Correa and running up enough debt ($500M) that they had to sell 20% to minority investors in order to keep it from spinning out of control.
Of course, the Twins started pushing up their debt ceiling long before Joe took charge. Still, he proved ill-equipped for the situation. Thus, three years after he took charge, Joe Pohlad was relieved of his duties as executive chair.
With new investors in tow, Joe’s older brother Tom Pohlad was brought in to run the family baseball business. Since his arrival, Tom has been determined to set a different tone than past Pohlads.
We’ve heard him talk big about future payroll increases, comments he recently doubled down on, vowing to “meaningfully invest” in the roster this offseason, even noting that a $100 million payroll isn’t sufficient in Major League Baseball going forward.
Some of his promises and antics have landed better than others. But trust isn’t earned in a day, and nobody is learning that better than this billionaire family.
Pohlads in talks to sell Minnesota Twins again
And let’s be real, a large portion of the fanbase doesn’t care what any Pohlad has to say these days. They stopped listening a long time ago, and for good reason. Many have even vowed to never watch a Minnesota Twins game again until they have sold the team.
Well, we caught wind of some rumors this weekend that they may want to tune in for. According to Charley Walters (Pioneer Press), the Pohlads are getting serious about selling the team yet again.
Pssst: A sale of the Twins to the New York-based global investment firm Varde Partners, which has an office in Minneapolis and in 2025 became a Twins limited partner to help the franchise out of $500 million in debt, is said to be heating up. Varde Partners reportedly manages $15 billion in assets.
Charley Walters – Pioneer Press
Minnesota Twins fans have gone through this song and dance before, and won’t believe they’ve been relieved of the Pohlad family until it’s actually set in legal stone.
It’s also worth noting that the current CBA expires December 1, with a lockout widely expected to follow. So everything about baseball’s future is up in the air until that gets figured out, including all of these Pohlad promises (and any chance that they sell).
As Walters — a former Minnesota Twins pitcher who’s been scooping sports news for the past five decades — notes in his article at the Pioneer Press, Varde Partners came aboard as a limited partner in 2025, taking on equity to help clear the Pohlads’ ever-expanding debt at the time.
Pohlads looking for bigger valuation this time around
Now, per Walters, they’re looking for a bigger piece of the pie. While the Pohlads initially suggested there were no set triggers for the limited partners to take on further ownership, the family’s interest in a sale has never really gone away.
The reality is that Carl Pohlad purchased the MN Twins for $44 million in 1984. Even had they sold for the $1.5 billion valuation they refused to accept the first time around, the family would’ve netted more than a 3,000% return, with an annualized return of nearly 9%.
Instead, with the changes expected to take place this winter through CBA negotiations, they’ll now be seeking a $2 billion valuation, per Walters.
With a new baseball economic model, the Pohlad family, which sought $1.75 billion for the Twins two years ago, could expect in excess of $2 billion going forward.
Charley Walters – Pioneer Press
Last time they were on the open market the family reportedly sought $1.75 billion, though the debt would have brought their net closer to $1.25 billion. It’s possible the new outlying factors could push their value well above that.
The Los Angeles Angels ($4B) and San Diego Padres ($3.9B) both sold in 2026 for FAR MORE than what the Minnesota Twins were asking prior to those deals being done.
Could the MN Twins really be headed for new ownership?
Ultimately, this offseason could prove pivotal in an adjustment of the Minnesota Twins’ overall value. A salary cap being instituted across Major League Baseball would only further accelerate values with spending being capped and revenues continuing to grow. A new television deal being expected in 2028 with ESPN would throw gasoline on growth as well.
Over four decades of ownership, the Pohlad run has included World Series titles in 1987 and 1991 and the opening of Target Field in 2010. Everything in between has been mostly a disaster… or an unstoppable train on the way to that. And going all the way back to Carl, tight pockets have been an ongoing issue.
For many fans, the Minnesota Twins moving on from the Pohlad family would be welcome news. While what Varde Partners, or anyone else for that matter, would do with the franchise is unknown, new ownership is undoubtedly the preferred result for the majority of this fanbase.
There are a significant number of family members with a stake in the franchise, but it’s an asset that doesn’t make the family much (if any?) cash until it is sold.
In the meantime, the Pohlads have sold off businesses like Carousel Motor Group, and remain heavily invested in commercial real estate. Not every member of the family has the same ties to baseball, either. So there is lots of motivation to sell, some financial, some personal, and some undoubtedly both.
