The Pohlad family said Wednesday it will keep its majority stake in the Minnesota Twins, reversing an earlier plan to sell the Major League Baseball franchise it has owned for 41 years. The family had begun exploring a sale 10 months ago but concluded a review of options with what it called a “detailed and robust process.” Instead of selling, the Pohlads will admit two as-yet-unidentified limited partnership groups that will supply fresh capital and share strategic input. The transactions, which would leave the family with controlling interest, are subject to Major League Baseball approval. Chair Joe Pohlad said the additional investors will help the club “strengthen the organization in a rapidly evolving sports landscape” that requires new ideas and long-term vision. Financial terms were not disclosed.
The Twins are no longer for sale, according to the @startribune. The Pohlad family will “retain ownership” of the franchise, 10 months after announcing their intention to sell the team. https://t.co/ypofcJ7ZlU https://t.co/fhA2OX8hC4
JUST IN: The Pohlad family will maintain ownership of the Minnesota Twins, ending months of speculation about the team's future. The family announced it will add two new limited partnership groups, pending Major League Baseball approval, to strengthen the club's operations. https://t.co/EJhihEG0ku
BREAKING: The Pohlad family will keep its majority stake in the Minnesota Twins as two minority partnership groups buy in. https://t.co/HvwyYFTc9A