MLB team put up for sale by billionaire owners

The Minnesota Twins are connected the auction block.

According to Sportico, the American League Central part squad person retained concern slope Allen & Company to research a merchantability of the franchise.

The Pohlad family, which owns the team, informed their employees this morning.

In a statement, the squad said, 'After months of thoughtful consideration, our household has reached a determination this summertime to research selling the Twins.

'As we participate the adjacent signifier of this process, the clip is close to marque this determination public.'

The Pohlad household has owned the Twins for 4 decades - presently the fourth-longest tenure by immoderate ownership groups down the New York Yankees, Chicago White Sox, and Philadelphia Phillies.

Per Sportico's astir caller valuations, the Twins are the 19th astir invaluable franchise successful Major League Baseball astatine $1.7billion.

Carl Pohlad, a financier, bought the Twins for $44million successful 1984 and was the richest proprietor successful shot astatine the clip of his decease successful 2009. 

His 3 children inherited the squad - with lad Jim Pohlad serving arsenic the controlling owner. 

Only 5 control-stake income of MLB teams person been conducted successful the past decade: John Stanton's acquisition of the Seattle Mariners successful 2016, Bruce Sherman's acquisition of the Florida Marlins successful 2017, John Sherman's acquisition of the Kansas City Royals successful 2019, Steve Cohen's acquisition of the New York Mets successful 2020, and David Rubenstein's acquisition of the Baltimore Orioles successful 2023.

Back successful 2022, the Washington Nationals and the Los Angeles Angels hired banks to research the merchantability of their teams. Angels proprietor Arte Moreno publically announced that helium took the squad disconnected the marketplace successful January 2023, but admitted that he's unfastened to offers.

The Twins person been successful Minnesota since 1961 aft the archetypal incarnation of the Washington Senators moved to The Gopher State.

Minnesota won World Series titles successful 1987 and 1991 - some coming wrong the archetypal decennary of Pohlad ownership - but past failed to marque the playoffs until 2002.

Since 2000, the squad has won the AL Central part 9 times - but lone made the AL Championship Series once, wherever they fell to the eventual World Series champion Angels successful 2002.

Minnesota's payroll has been successful the bottommost fractional of the league for the past 12 seasons.