With the imminent sale of the Tampa Bay Rays in baseball’s rearview mirror, another franchise transaction of the Minnesota Twins now assumes the spotlight.
In October 2024, the three Pohlad brothers announced they would pursue a sale of the team, which their father Carl bought in 1984. They had expected to make an announcement by Opening Day 2025, but there has been no news, leading some to speculate that no parties are willing to meet the Pohlad’s asking price.
Major League Baseball commissioner Rob Manfred dispelled that rumor when speaking at the annual pre-All-Star Game Baseball Writers Association of America press conference.
“I know some things that you don’t know,” Manfred said. “I can tell you with a lot of confidence that there will be a transaction there, and it will be consistent with the kind of pricing that has taken place. There will be a transaction.”
The delay was triggered in June when likely buyer Justin Ishbia decided against the purchase and instead increased his minority share of his hometown Chicago White Sox from five percent to 35 percent. Ishbia is also a co-owner of the NBA’s Phoenix Suns.
“This is a small business, right? All those bankers out there — there ain’t that many of them, and they all talk to each other,” Manfred said. “When it becomes clear that you have a leader in the clubhouse, everybody else kind of backs away, right? Because they kind of get a feel for the price, and unless they’re prepared to top it, they’re going to move on and do something else.”
Tampa Bay owner Stuart Sternberg recently agreed to $1.7 billion sale for his franchise and over one year ago, the Baltimore Orioles were purchased from the Angelos family for $1.725 billion.
“We just need to be patient while they rework,” said Manfred.
–Field Level Media
