Twins Owners Have Decided to Stop Selling the Club and Attract New Investors

• The Pohlad family will keep the club under their control.
• They will add new investors to improve the team.
• The club is facing the lowest attendance in 16 years.

MINNEAPOLIS — Minnesota Twins President Joe Pohlad announced in a statement that the club will no longer be for sale. The Pohlad family, after 10 months of exploring various options, decided to keep the club under their control and attract new investors.

The club was acquired by Carl Pohlad, a banking magnate and grandfather of Joe, 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 a part of our family history, as well as for our employees, players, the community, and Twins fans around the world," said Joe Pohlad in his statement.

The Pohlad family plans to add two "significant" groups of limited partners to bring in new ideas, strengthen important partnerships, and formulate a long-term vision for the franchise, which moved to Minnesota in 1961 after being founded in Washington. Details about the new investors remain confidential pending approval from Major League Baseball.

Currently, the Twins have the lowest attendance rate in 16 seasons at Target Field. Last year, the club recorded a deficit, primarily due to a decrease in regional television revenue, which led to a reduction in available funds. The club also traded 10 players before the trade deadline on July 31, which further weakened the roster.

Joe Pohlad noted that new investors will help develop the team and culture, with which players will want to engage. "We feel the interest of our partners, the community, and Twins fans. This interest inspires us," he added.

Tags: USA/Sport/Baseball