Report: Pohlad family seeking $1.7B for Twins
The Pohlad family, which owns the Minnesota Twins, is looking for at least $1.7 billion to sell the franchise, according to The Athletic's Ken Rosenthal, Dan Hayes, and Brittany Ghiroli.
However, the club has accrued debt of more than $425 million, one of the highest figures among MLB's 30 teams. It has prompted the Pohlad family to seek a high selling price and could be leading to limited interest from potential buyers, Rosenthal, Hayes, and Ghiroli add.
Twins executive chair Joe Pohlad announced in October the franchise would go up for sale, and it appeared like billionaire Justin Ishbia was the front-runner to purchase it. Ishbia opted to increase his ownership stake in the Chicago White Sox instead, forcing the Pohlad family to renew the sale process.
The Pohlad family doesn't appear to be interested in rushing a sale despite the debt and low attendance numbers. The Twins finished 23rd in attendance last season, averaging 24,094 fans per game, according to Baseball Reference.
Carl Pohlad bought the Twins for $44 million in 1984. Minnesota has won two World Series and secured 11 division titles since then.