Rocco Baldelli took over as the Minnesota Twins manager before the 2019 season and the change in leadership immediately paid dividends, producing 101 wins and setting records as a team that went down in MLB history as the “Bomba Squad”.

A year later the world shut down, but the Twins again made the playoffs under their second-year skipper, following an extremely shortened season. Then in 2021, the floor fell through and we got Baldelli’s first official stinker (73-89).

As is often the case with teams that do not meet expectations, the 2021 Twins faced all sorts of challenges throughout the summer. Their clubhouse was run by Josh Donaldson, one of the most divisive personalities in Twins history.

Shocker: Byron Buxton was healthy for just 61 games, and that lead to a carousel of outfielders rotating in center. Their shortstop was an over-the-hill Andrelton Simmons and the human turtle Willians Astudillo played a career-high 72 games at seven different positions, if you include DH.

Seattle Mariners hand Rob Refsnyder a big check

Among the oddities of that season, was the inclusion of one-time New York Yankees deep cut, Rob Refsnyder, who played in 51 games as a Minnesota Twin in 2021, and made 157 plate appearances, slashing .245/.325/.338 (.663 OPS).

That offseason, he wound up in Boston, where he quietly became a Red Sox lineup staple in the four seasons since. Refsnyder’s first year in Boston, he hit a career-best 143 OPS+ across 57 games.

His production dipped in 2023 (87 OPS+ in 89 games), before he turned it back up to a combined 132 OPS+ over 163 games between 2024 and 2025. And now, he’s heading west for a pretty impressive payday with the Seattle Mariners.

Mariners roster news: They just announced that they’ve signed veteran 1B/OF Rob Refsnyder to a one-year Major League contract.

It’s for $6.25 million, a source said, and it brings their 40-man roster to capacity.

— Daniel Kramer (@DKramer_) December 22, 2025

Originally drafted by the Yankees in the fifth round back in 2012, Refsnyder bounced around between just about every team in the AL East between 2015 and 2018 (NYY, TOR, TB). Finally, he stepped outside his comfort zone for two seasons (2020 and 2021) for one-year runs with the Rangers and Twins.

In 2022, Refsnyder found his way back to the AL East, signing with one of only two teams in that division that he had yet to play for — the Boston Red Sox.

Despite sticking in Boston for nearly a half-decade and paving out a 10-year big league career, the utility outfielder hasn’t played more than 93 games in any of those seasons. Having never made more than $2.1 million in a season, this is a serious payday for the journeyman.

Short-term Minnesota Twins outfielder does what for Mariners?

Why you pay Refsnyder more than $6 million is very clear though, a platoon outfielder who hasn’t posted positive defensive metrics with any consistency since 2018?

Well… because he crushes lefties. In 2025 he batted .302/.399/.560 against southpaws, and he hit seven homers in just 116 at bats. His .826 career OPS against lefties is nearly 200 points higher than against right-handed pitchers.

Lefty masher

Welcome to Seattle, Rob Refsnyder!pic.twitter.com/hvx3ai1spg

— Steve (@MarinersSteve) December 22, 2025

Last year, the Seattle Mariners threatened a World Series appearance on the back of former Minnesota Twins infielder Jorge Polanco. This offseason, he grabbed the bag in New York, signing with the Mets.

For a Major League Baseball organization that wants to invest in winning, $6 million is just a drop in the bucket. Refsnyder gives the Mariners a platoon bat they can insert wherever, especially in the outfield.

Refsnyder won’t give Seattle what Polanco did last summer, but Refsnyder is a solid addition around the big league edges, nonetheless.

More must-reads:

• MN Twins Take Trophy for MLB’s Unhappiest Fanbase
• Failed MN Twins Infielder Finds Work Out West
• Veteran Reliever Joins MN Twins on MiLB Deal

Last week, the Minnesota Twins announced their new minority owners, clarified the organization’s debt situation, and officially pushed Joe Pohlad out of the spotlight.

Now, Tom Pohlad is their front man and the latest family member to promise real change in an ownership group that almost always falls short of promises and expectations. Unfortunately for the Twins and their expanded ownership family, fans aren’t interested in lip service anymore.

Joe Pohlad said all the right things when he was introduced as executive chair in November, 2022. He followed through for a couple of seasons, before suddenly having to “right-sized” payroll.

Fans Need Better From the Minnesota Twins

The last couple years of incompetence is hardly a surprise to MN Twins fans. The Pohlads have shown little care for their fanbase for years now, if not decades.

And when you repeatedly fail and frustrate your fans like our favorite baseball team has recently, well… that’s how your fanbase lands the No. 1 spot on ESPN’s most frustrated MLB fanbases.

Let’s turn back the clock to 2019. The Twins won 101 games, smashing an MLB-record 307 home runs, on their way to the AL Central title. Then consider where the rest of the division was. The Kansas City Royals were a mess. The Detroit Tigers were a bigger mess.

The Chicago White Sox had lost 89 games. Cleveland was about to embark on a rebuild of sorts…The Twins had the most talent in the division. They should have dominated the AL Central the next six years.

But that didn’t happen…Then came the 2025 trade deadline, when the Twins had a historic sell-off, dealing away 11 players in a series of moves that stunned the baseball industry.

David Schoenfield – ESPN

As Schoenfield points out, Minnesota fans have been climbing his list for years. Last season, they ranked fourth. One year later, their fans are even worse off than those cheering for the 102-loss Chicago White Sox.

Is there hope? Kind of. The AL Central is hardly a gauntlet, which should give the Twins a chance to compete in the short term, as long as team president Derek Falvey can put a decent budget squad together.

Trying to find hope in Twins’ future

But really, this is lipstick service for a pig. Because, as Schoenfeld points out, the moment this ownership group decided not to sell the franchise back in August, any real feeling of optimism for the future went along with it.

[After the trade deadline] The Twins went 19-35 the final two months and attendance fell to 1.77 million, the lowest full-season figure for the franchise since 2000.

In the midst of this, the Pohlad family, which has owned the Twins since 1984 and had been exploring a sale, took the team off the market in August — crushing the hopes of Twins fans everywhere.

David Schoenfield – ESPN

The addition of Josh Bell is a step in the right direction, but the bullpen still needs a complete rebuild. More than likely, Dan Altavilla isn’t the piece that gets it done.

Even with a new influx of cash, it would be unrealistic to expect the Twins’ payroll to rise significantly by 2026. That means Derek Shelton and the front office must squeeze more out of the talent already in place.

If the Pohlads truly want fans back at Target Field, it won’t be about what they say, it will be about what they do.

If there’s a glimmer of good news for a franchise that has just one playoff series win since 2002 (a wild-card series win in 2023) and last appeared in the World Series in 1991, it’s that the Twins will apparently hold on to Joe Ryan, Pablo Lopez and Byron Buxton, despite trade rumors at the beginning of the offseason.

Hey, in the AL Central, anything is possible. Maybe the Twins find a way to get off this list next year.

David Schoenfield – ESPN

More must-reads:

• Brief MN Twins Outfielder Receives Record Payday
• Failed MN Twins Infielder Finds Work Out West
• Veteran Reliever Joins MN Twins on MiLB Deal

The Minnesota Twins’ roster has been through a ton of change over the past 6 months, between its complete deconstruction at the trade deadline and the moves they’ve made this offseason with the Rule 5 Draft and addition of 1B/DH Josh Bell.

Lost in the shuffle of all this coming and going in the MN Twins clubhouse, Jose Miranda was jettisoned from the roster, in a move that most saw coming for a while now. And on Friday, the 27-year-old infielder found a fresh start out West, with the San Diego Padres.

Padres pick up former Minnesota Twins infielder Jose Miranda

It wasn’t long ago that Jose Miranda set the major league record for hits in consecutive plate appearances and looking like a cornerstone piece of the MN Twins’ future. In 2026, Miranda’s revenge tour will begin with the Padres’ Triple-A club.

The Padres and infielder Jose Miranda have agreed to a Minor League deal, sources tell @JustBB_Media. Includes ST invite.

Miranda, 27, owns a career .719 OPS in parts of four MLB seasons, but only saw action in 12 MLB games last year while struggling to a .569 OPS in Triple-A.

— Aram Leighton (@AramLeighton8) December 19, 2025

The Twins took Jose Miranda in the second round of the 2016 MLB Draft and he made his big league debut in 2022. Miranda’s 114 OPS+, as a rookie, got many in the organization and throughout the fanbase excited. Unfortunately, his production cratered in 2023 (55 OPS+), where he appeared in just 40 games.

Miranda briefly returned to the spotlight in 2024, where he ripped off hits in a record 12-consecutive plate appearances and pushed his slashline up to .284/.322/.441. He then fumbled his chance to start out of Spring Training in 2024, going 6-for-36 with a 13/0 K/BB in the Twins’ first 12 regular season games.

Related: Veteran Reliever Joins MN Twins on MiLB Deal

Miranda then went down to St. Paul, where he wasn’t any better. Across 90 games last year, Jose Miranda batted .195/.272/.296. He’ll need to show well during Cactus League competition that he’s worthy of keeping around.

Not that he should worry about what position he’ll start at, for the Padres, but for those who might be — San Diego has Manny Machado locked in at the hot corner, but it’s possible first base could present an opportunity.

More must-reads:

• Brief MN Twins Outfielder Receives Record Payday
• MN Twins Take Trophy for MLB’s Unhappiest Fanbase
• Veteran Reliever Joins MN Twins on MiLB Deal

This offseason, if the Minnesota Twins want any chance of competing in a weak AL Central, they need to rebuild the bullpen they ripped to shreds at the 2025 MLB Trade Deadline. Of course, the free agency conversation with the local nine always starts with money.

Despite the cash infusion provided by the new minority partners, payroll isn’t going to increase that much beyond the $100 million it’s currently projected at. That number is $50 million less than their 2024 payroll and $60 million less than what they spent in 2023, the last time Minnesota went to the playoffs.

More than likely, president of baseball operations Derek Falvey will look to add with cheap veterans off the free agent market, while also transitioning some underachieving young starters into the bullpen, in an attempt to jump start their big league careers.

Dan Altavilla signs with Minnesota Twins

Over the years, Falvey has shied away from spending tangible offseason dollars on the MN Twins bullpen. Addison Reed is the only player he ever gave a substantial contract to, and that went up in smoke.

The Twins have had far greater success converting starters to relievers and/or spending small on the open market, and finding untapped talent for bargain prices. On Wednesday night, Falvey’s latest bullpen project — Dan Altavilla — was signed to a minor league deal.

Right-handed pitcher Dan Altavilla agreed to a minor league contract with the Minnesota Twins, according to a source.

Altavilla, 33, appeared at the MLB level with the White Sox in 2025, throwing 29 innings with a 2.48 ERA.

— Francys Romero (@francysromeroFR) December 18, 2025

In 2025, Dan Altavilla threw 29 big league innings for the Chicago White Sox, rising up as one of the few bright spots on yet another dismal season on the South Side, posting a 2.48 ERA.

What does Altavilla bring to Twins and will we see him in March?

But a look deeper into his 2025 numbers will tell you why he’s being relegated to an MiLB contract this offseason. A sub-2.50 ERA is really good, even for a reliever, but his 5.45 FIP and 21/15 K/BB show a deeper problem ready to unveil itself, with a larger sample size.

At 33 years old, Altavilla is no spring chicken, but he does bring eight seasons in the big league experience to the organization. In that near-decade of service time, the most he’s pitched in a single season is 46 2/3 innings (2017 with Seattle).

Dan Altavilla, Filthy Sinkers. 😷 pic.twitter.com/9WwyBX526v

— Rob Friedman (@PitchingNinja) September 10, 2025

Related: MN Twins Replace Key Ownership Figure

Dan Altavilla holds a career 9.4 K/9, which is plenty for the Minnesota Twins to work with. But again, he has to fix his accuracy issues. Even for a reliever, a 4.7 BB/9 is way too high.

Altavilla is a sinker and slider pitcher, who also developed a changeup last season with the White Sox. After virtually never throwing the pitch previously, he used it 23% of the time in 2025.

There are no guarantees that Altavilla makes Derek Shelton’s 26-man Opening Day roster. However, he’s coming into an organization that has virtually no bullpen at the time of his signing.

More must-reads:

• Brief MN Twins Outfielder Receives Record Payday
• MN Twins Take Trophy for MLB’s Unhappiest Fanbase
• Failed MN Twins Infielder Finds Work Out West

The Minnesota Twins are set to play baseball in 2026, though their status beyond that remains uncertain. Before the regular season begins, however, the sport will take center stage on the global level. The World Baseball Classic returns in 2026, and Team USA will look to avenge its previous loss to Japan and Shohei Ohtani.

The Americans will have no shortage of talent to choose from, and the roster has already begun to take shape. Twins star Byron Buxton has been named to the preliminary group, and it now appears he won’t be the only Minnesota representative.

Joe Ryan confirmed for Team USA roster

When the Twins traded Nelson Cruz to the Tampa Bay Rays for Joe Ryan, the young right-hander was pitching for Team USA in the Olympics. This time around, Ryan will represent the United States in the World Baseball Classic, once again joining former Twins teammate Griffin Jax.

It's time for the Joe Ryan experience 😤

He will play for Team USA in the 2026 #WorldBaseballClassic! pic.twitter.com/BUMNE77kLZ

— World Baseball Classic (@WBCBaseball) December 17, 2025

At the time of his Olympic appearance, Ryan was a 25-year-old prospect posting a 3.63 ERA at Triple-A Durham. Now, he enters the World Baseball Classic as a 29-year-old coming off a 3.42 ERA (3.74 FIP) season with the Twins.

Last year marked Ryan’s best stretch in the majors. By the All-Star break, he carried a 2.72 ERA and looked like a legitimate Cy Young contender. Unfortunately, his performance dipped down the stretch, and he was even rumored in trade discussions.

2025 PitchingNinja Sweeper of the Year Award. 🏆

Winner: Joe Ryan
30.5 inches of Horizontal Break 😳 pic.twitter.com/S1TS4IkeXg

— Rob Friedman (@PitchingNinja) November 8, 2025

Minnesota has since made it clear they plan to keep both Ryan and Pablo López while building around them. With new minority investors and a shift in organizational messaging, the Twins appear committed to competing, though how aggressively they support their core remains to be seen. Even modest upgrades could put this roster in position to contend.

For new manager Derek Shelton, the hope is that Ryan enters spring training sharp after pitching in high-profile environments. If Ryan can remain healthy and effective through World Baseball Classic action, it could provide a valuable springboard toward another step forward in 2026.

More must-reads:

• Brief MN Twins Outfielder Receives Record Payday
• MN Twins Take Trophy for MLB’s Unhappiest Fanbase
• Failed MN Twins Infielder Finds Work Out West

Minnesota Twins ownership had been exploring a sale of the team for more than a year. Due to their exorbitant amount of debt, the Pohlads were unable to find a buyer willing to meet their full asking price. So instead, the Twins are bringing on a trio of new minority investors.

One of those groups was announced on Wednesday. It’s made up mostly of Glick Family Investments, George C. Hicks, and Minnesota Wild owner Craig Leipold. But that wasn’t the only announcement made by the MN Twins this afternoon.

Minnesota Twins replace Joe Pohlad with Tom Pohlad

Today, before the scheduled press conference regarding the minority partners above took place this afternoon, the team made another notable announcement that did not get a press conference.

After three seasons as Twins executive chair, Joe Pohlad is being replaced at the top of team operations by his older brother, Tom Pohlad.

“It has been one of the greatest responsibilities and privileges of my life to work alongside the people in this organization and to serve our fans. As we begin this next chapter in our ownership of the Twins, I will be stepping away from my day-to-day role. I will continue to champion our employees and Twins Territory as our organization moves forward.”

Joe Pohlad

Joe Pohlad’s time as executive chair will forever be synonymous with two things. He oversaw the largest roster teardown in franchise history, which spanned from the fall of 2023 to the 2025 trade deadline.

But what will follow Joe around Minnesota for the rest of his life are his now-infamous comments about “right-sizing” the Twins’ business, which came right after the team’s longest postseason run in two decades.

Joe Pohlad’s reign atop MN Twins defined by failure

Joe took over for his uncle Jim back in 2022, who moved into a Control Person role with the league. Under the younger Pohlad’s leadership, Minnesota shot for the stars — signing (among others) Carlos Correa, Sonny Gray and Pablo Lopez — pushing player payroll to numbers that Metrodome era fans could only have dreamed of.

Ultimately, it all came crumbling down in pretty epic fashion, which is why Joe’s reign atop the organization will go down as a failure. Sometimes in life, “trying” can only take you so far. And in Joe’s case, his expensive attempts at failure only made the Twins’ financial situation worse.

Not only did the Minnesota Twins fail to adapt to the rapidly changing television landscape, under Joe Pohlad, but it ended in the family having to sell off over 20% of its ownership just to keep the lights on. If that isn’t failure of epic proportions, please don’t tell me what is.

So naturally, with the fanbase and desperate for real change and a renewed direction, ownership’s response is to elevate yet another family member. Here’s Tom Pohlad speaking “Pohlad” about the situation, via official team statement.

“It is a profound honor to have the opportunity to continue a legacy that has been part of my family — and this community — for the past forty years. My uncle and my brother have led this organization with integrity, dedication, and a genuine love for the game. As I assume my new role, I do so with great respect for our history and a clear focus on the future — one defined by accountability and stewardship in our relentless pursuit of a championship.”

Tom Pohlad

Unfortunately, the shift from one Pohlad to another is unlikely to represent a significant philosophical shift in thinking at the highest levels of the MN Twins organization. In all likelihood, Tom will be more fiscally conservative than his younger brother.

Tom Pohlad is the oldest grandson of Carl Pohlad and he has been involved in a bunch of family business ventures over the past 20 years. Most recently, he was the Executive Chairman of Pohlad Companies, a role he will step down from to take over at the top of the Twins’ decision chain, in place of Joe.

Some hope for Twins’ immediate future

The changes to the Twins’ ownership structure do little to alter the present or long-term outlooks of the organization and we know they aren’t planning to spend more than $110-$120 million on the roster — significantly down from 2025.

However, with these new minority investors easing the debt that was putting so much financial pressure on the Pohlads, there is some wiggle room for “team president” Derek Falvey to add more talent back onto a roster that was ripped apart at the 2025 trade deadline.

The signing of Josh Bell confirmed the Twins’ plan to buy, not sell this offseason, even if said “buying” will be moderate. And for now, that’s the best we are going to get.

If you want to see bigger changes to how this franchise operates, you need to hope the Pohlads put the team back on the market a couple of years from now, a scenario that is very plausible.

More must-reads:

• Brief MN Twins Outfielder Receives Record Payday
• MN Twins Take Trophy for MLB’s Unhappiest Fanbase
• Failed MN Twins Infielder Finds Work Out West

Every offseason, before games and reality take over in the spring, Major League Baseball runs on algorithms built to predict the future. No projection system is perfect, but they’re not meant to be.

Nonetheless, some models trend more accurately than others — just like some tend to like the Derek Falvey-operated Minnesota Twins teams more than others.

2026 ZiPS Projections: Minnesota Twins

Dan Szymborski, now of FanGraphs, built his ZiPS algorithm over 20 years ago. In the decades since, it has become one of the most trusted and followed offseason models across the baseball world.

Last season the Minnesota Twins finished with an ugly 70-92 record. They aren’t expected to add significantly to the payroll, but no longer plan to continue the roster deconstruction process that went into overdrive before the 2025 MLB Trade Deadline.

ZiPS has hope for Twins offense

With the addition of 1B/DH Josh Bell, how do the Twins project for the upcoming season, according to the initial 2026 ZiPS model? With a bullpen yet to be rebuilt, Minnesota is currently projected to finish next season with 78-84 wins — right around .500.

There’s no doubting, however, that over at FanGraphs… Szymborski has a quiet optimism about him, when breaking down what his algorithm has to say about the MN Twins early this offseason.

The easiest thing for people to do is set this past season as a baseline and understand that this team isn’t going to be much better in 2026. But using last season’s record as a baseline is generally a poor idea, as there’s a good argument that a lot of the 2025 Twins underperformed their actual ability.

It’s the same kind of shortcut reasoning that caused people to underrate the Blue Jays going into this season, assuming that the Jays had to build up from their actual 74-win total in 2024 rather than from something closer to 81-83 wins, which was about Toronto’s true talent level.

The 2025 Twins were better than a 70-92 team, but they do have some problems with their offense that they may or may not address between now and next season. If the season started today, the Twins look like a roughly .500 team, with their expected win total somewhere in the 78-84 range, but they’re close enough to good that if they were to hit their upside scenario, they could be an interesting contender. 

Dan Szymborski – Fangraphs

There is plenty of offseason left, and while we shouldn’t be expecting earth-shattering moves from the Minnesota Twins, they will certainly do more. Thankfully, this front office has a history of assembling cheap bullpens on the fly. Over the next few months, that reputation will be put to the test.

The lineup is in a weird spot. There is a glut of left fielders, most of which are left-handed. ZiPS is not at all high on Brooks Lee (0.5 fWAR projection) seeing him as a less valuable asset in 2026 than a lineup tweener like Kody Clemens, or even backup catcher Alex Jackson.

Lee’s 79 OPS+ and .236/.285/.370 slash line last season pushed his value down across the league, algorithms included. Unfortunately, the former first round pick will have to prove ZiPS wrong because the Twins can’t afford to go out and sign a better shortstop.

On the flip side, Szymborski’s 2026 algorithm loves some of Minnesota’s up-and-coming prospects, projecting both Kaelen Culpepper (1.9 fWAR) and Emmanuel Rodriguez (1.3 fWAR) to have breakout big league seasons.

Depending on how they look, come Spring, it’s possible we could see either the young shortstop and/or outfielder sooner than later. If you trust ZiPS, then that’ll certainly be the expectation when the Minnesota Twins assemble in Fort Myers, come February.

Algorithm loves 2026 MN Twins starting pitching

Keeping Joe Ryan and Pablo Lopez was a non-negotiable, if the Twins wanted to enter 2026 in the pretender or contender conversation. Unsurprisingly, ZiPS loves Minnesota’s starting one-two punch. It doesn’t hate the arms behind their aces, either.

Zebby Matthews is projected as the MN Twins’ third-best starter in 2026 — touting a future 3.93 ERA. Also of note, ZiPS has David Festa falling out of the rotation, which would facilitate a move to the bullpen, which desperately needs help.

Keeping Ryan and López, if that’s what the Twins actually plan to do, is a pretty big deal. With those two at the top, Minnesota would have a legitimate playoff-caliber rotation. Bailey Ober’s history is better than his 2025 performance, and I don’t think it’s unreasonable to see him as a fine mid-rotation starter, and ZiPS has always been stanning for Zebby Matthews. Simeon Woods Richardson, Taj Bradley, and Mick Abel all get highly useful projections from ZiPS, and the computer really likes the organization’s minor league depth.

Dan Szymborski – FanGraphs

While uninspiring, the MN Twins are not so far from relevance. A couple of shrewd additions will push the needle forward. Major League Baseball seasons are a journey, not a race.

The reality is that most every team (sorry Chicago) will win 60 games and lose 60 games. It’s what happens with the other 60 that determines your fate. Can the Minnesota Twins surprise the league an fair better in those 42 “up-in-the-air” games?

If it makes you feel better, ZiPS thinks they have a chance…

More must-reads:

• Brief MN Twins Outfielder Receives Record Payday
• MN Twins Take Trophy for MLB’s Unhappiest Fanbase
• Failed MN Twins Infielder Finds Work Out West

It wasn’t that long ago that we expected the Pohlad family to sell their majority ownership of the Minnesota Twins. Then in October, they pulled the rug from under the fanbase by taking the team off the market.

Not long after, we found out that, instead, the Pohlads were bringing on two mystery investors that were reportedly purchasing ~20% of the team and paying down their mounting $450-$500 million in debt.

In the months since, all has been quiet behind the scenes at Target Field — not just regarding the Minnesota Twins’ immediate future on the field — but surrounding who exactly these new investors are and when/if they will be onboarded.

More details finally come out on new Minnesota Twins minority owners

Finally, on Tuesday, we got a few more pieces of the puzzle. Let’s start with the new minority owners. It turns out there are two main groups, as originally reported, but the Twins also have a third group that has come together and been approved by Major League Baseball, according to team insider Dan Hayes (The Athletic).

In total, the Pohlads are selling over 20% of the team to these various limited partners, all of which are buying in at a valuation of $1.75 Billion — far more than the $1.4 Billion Forbes has them valued at. As previously reported, these minority partners are coming in to pay down a debt that has now reached $500 million.

Selling more than 20 percent of the franchise to three minority partnership groups at a $1.75 billion valuation, the Pohlad family is expected to announce this week they’ve finalized a transaction that helps a club $500 million in debt return to a sound financial footing while also requiring the addition of three seats to the team’s ownership advisory board, league sources told The Athletic.

repeated delays in the process are due to additional, smaller ownership groups emerging and purchasing shares of the franchise, add-ons that required MLB’s approval…“It’s a big series of checks,” said one source with knowledge of the transaction. “Once it was out that we were doing a minority sale, a number of people stepped forward.

Dan Hayes – The Athletic

Just 1.5 weeks ago, the Twins’ 2026 payroll was projected at $95 million and we were all bracing for it to decrease even further. Had the Pohlads ordered Falvey to continue the 2025 trade deadline deconstruction project — which likely would’ve meant dealing Byron Buxton, Joe Ryan and Pablo Lopez — it could’ve realistically dropped to $70-$75 million.

Sudden shift in Twins’ offseason plans explained

At the MLB Winter Meetings, however, Falvey switched gears and started notifying teams that the MN Twins were keeping all three of their stars. On top of that, the front office was looking to MODERATELY add to the roster, in hopes of contending in a weak AL Central this summer.

Since, the Minnesota Twins made their first free agent move as 2025-26 offseason buyers on Monday, signing first baseman Josh Bell to what is essentially a one-year deal worth less than $7 million.

It’s a bargain contract at a position of need, for a team still very much shopping in the “deals” aisle. Not only can he play first and present a legitimate DH option, but Bell hits from both sides of the plate, so platooning him isn’t a real concern either.

Thanks to this story from The Athletic, we now know why the Twins shifted offseason gears during the Winter meetings. They were waiting on their new minority investors to be ratified by the MLB.

Because without the new investors, the plan for 2026 would’ve been completely different than what we are seeing this week. On Wednesday at 1:00 PM, we will learn even more about these new minority ownership groups, one of which includes Minnesota Wild owner Craig Leipold.

As a result of the agreement between the Pohlads and their new limited partnership groups, the cash infusion will significantly reduce the club’s debt, which multiple sources say has ballooned over the past five seasons.

“It’s baked into the deal that there’ll be a meaningful, significant pay down of the debt,” one source said.

Dan Hayes – The Athletic

According to multiple sources, #mnwild owner Craig Leipold is part of one of three limited partner groups https://t.co/XaD6DDHhiq

— Michael Russo (@RussoHockey) December 17, 2025

MN Twins blaming debt on COVID, George Floyd?

Not only that, but the Pohlads have officially listed the reasoning behind how they racked up a confirmed $500 million in debt. Today’s report points to the 2020 COVID season, where the Twins and most of the league took huge financial hits.

As reported back then, the Pohlads did NOT lay off employees, shouldering the lost cost themselves. According to Hayes, that decision ballooned a debt, that was already over $200 million, to an unmanageable number that eventually forced them to sell off nearly a quarter of their Major League Baseball team.

At one point, the Twins clearly believed they’d be able to pull out of the financial funk supposedly placed on them by the pandemic. That’s why they invested in Carlos Correa and pushed payroll to levels never seen before.

Unfortunately, the fans never really returned to Target Field. Why? The Twins have more than one reason they are trying to make public, through Hayes, including fallout from Derek Chauvin vs George Floyd.

Expecting to draw at least 2.3 million fans to Target Field in 2020, the Twins’ plans were waylaid by COVID-19, like every other pro sports franchise.

Unlike many other teams, the Twins kept all of their employees and paid their minor-league players in 2020. That drove up the debt, which multiple sources said was in the $200 million range after the 2019 season.

In 2021, a combination of attendance restrictions, poor play and perceived security concerns during the trial of Derek Chauvin following George Floyd’s murder in Minneapolis the year before led to the Twins drawing only 1.3 million fans.

Dan Hayes – The Athletic

But even with the new minority investors, the Minnesota Twins are stuck shopping at K-Mart this offseason, something that likely will not change as long as the Pohlads remain majority owners.

More must-reads:

• Brief MN Twins Outfielder Receives Record Payday
• MN Twins Take Trophy for MLB’s Unhappiest Fanbase
• Failed MN Twins Infielder Finds Work Out West

This winter — after trading away most of their big league relievers at the 2025 MLB Trade Deadline –the Minnesota Twins are trying to rebuild their bullpen.

Before they jumped on a new arm, they nabbed a first baseman, in 32-year-old former Silver Slugger, Josh Bell. With their biggest positional need now filled, expect president Derek Falvey to turn his attention to the bullpen, where there’s still a ton of work to be done.

Caleb Thielbar returning to Chicago Cubs

One option that would have made sense and struck a chord with fans, is Northfield, MN’s own Caleb Thielbar, a lefty reliever with eight seasons of big league experience. Unfortunately for the Twins, a reunion with Thielbar isn’t in the cards. Not after he re-upped with the Chicago Cubs on Tuesday.

News: The Cubs are bringing back lefty Caleb Thielbar who pitched well for them last season, sources tell me and @JeffPassan. Thielbar, 38, had a 2.64 ERA in 67 games last season. He joins newcomer Hoby Milner as lefties in the Cubs pen. The deal is pending a physical.

— Jesse Rogers (@JesseRogersESPN) December 16, 2025

Last season, the South Dakota State University alum appeared in a career-high 67 games (yes, six-seven) with the Chicago Cubs. At age 37, he was impressive too, posting his best ERA (2.64) since 2013, as a rookie.

If that wasn’t impressive enough, Caleb decorated that Earned Run Average with a 3.00 FIP, 0.879 WHIP and 147 ERA+. His 1.1 fWAR was the second-highest mark of his career.

Thielbar is known for his devastating curveball and gets plenty of swing and miss from it. He posted a 25.5% whiff rate last year, flipping his curveball right around 28% of the time.

Caleb Thielbar, Devastating 75mph Curveball. 🌈 pic.twitter.com/R0j8oU7M9x

— Rob Friedman (@PitchingNinja) June 6, 2025

If he’s going to return for another big league season, it’s no surprise that Thielbar is choosing to remain on the North Side of Chicago, given the success he had there last summer. If he’s going to come back again, it makes sense to do it where he is comfortable.

Unforeseen Bounceback for former Minnesota Twins reliever

What’s crazy about Caleb Thielbar’s MLB career is that it has included multiple extended breaks. Just two years after making his big league dreams come true, Thielbar left the game of baseball following the 2015 season. He did not return until 2020.

Since returning to the big leagues, the former 18th round draft pick has made more than $10 million. Given he’s made a total of just over $11 million in his entire career, I think it’s safe to say that coming back was the right choice.

Caleb Thielbar’s one-year deal contract with the Cubs will be worth $4.5 million guaranteed, according to a source briefed on the deal for the lefty reliever. It includes a $4 million base salary for next season, a $500,000 buyout of a 2027 mutual option and performance bonuses.

— Patrick Mooney (@PJ_Mooney) December 17, 2025

At $4.5 million, Thielbar will take home the biggest payday of his career at 38 years old. He made $3.225 million in his final season with the MN Twins.

The Minnesota Twins head to Chicago immediately following the All-Star Game this season. Last year the Twins bested the Cubs in their lone three-game series.

More must-reads:

• Brief MN Twins Outfielder Receives Record Payday
• MN Twins Take Trophy for MLB’s Unhappiest Fanbase
• Failed MN Twins Infielder Finds Work Out West

The Minnesota Twins haven’t gone gangbusters adding talent to the roster this offseason, but they have made a few moves. Alex Jackson is now the backup catcher, and Josh Bell represented the first free agent signing as the new starting first baseman.

Prior to the Rule 5 Draft the Twins juggled the roster in order to grab Daniel Susac and facilitate a trade. They allowed Carson McCusker the opportunity to play overseas in the process, and he’ll have a familiar name to Minnesota fans as a teammate.

Former Minnesota Twins pitcher Kenta Maeda joins Carson McCusker in Japan

Last season, Carson McCusker made his debut with the Minnesota Twins after tearing up the farm system. The independent ball product drew a level of fame due to his power hitting prowess. Unfortunately, it didn’t translate to the big leagues as evident in his 16/1 K/BB. Now set to play for the Rakuten Eagles in Japan, he’ll be joined by former Twins pitcher Kenta Maeda.

#前田健太 選手の入団会見を行いました！

前田選手のコメントはこちら💬
👉https://t.co/otMyH4DfBT#RakutenEagles pic.twitter.com/F54mDKb4hH

— 東北楽天ゴールデンイーグルス (@Rakuten__Eagles) December 16, 2025

Maeda and McCusker may have crossed paths in 2023 while both were employed by the MN Twins, when Maeda was acquired from the Los Angeles Dodgers in a trade that ultimately sent Mookie Betts to the west coast.

In 2020 Maeda finished runner up for a Cy Young award. However, durability was never Maeda’s thing, and his 106 1/3 innings in 2021 were the most he ever accumulate for the Twins.

After posting a 4.23 ERA (4.02 FIP) with Minnesota in 2023, the Twins let him go to Detroit showing an unwillingness to do a multi-year deal. They were right as Maeda compiled a 6.21 ERA (5.04 FIP) over the last two years, and was demoted to the bullpen.

Now pitching back in his home country of Japan for the first time since 2015, Maeda joins Rakuten. He had previously spent the entirety of his Japanese playing experience with the Hiroshima Carp. At 37 years old, Maeda can end his career in comfort, and he’ll hopefully have a front row seat to McCusker launching plenty of homers as well.

Playing overseas, both will get a look at fellow former Twins slugger Miguel Sano. He too recently signed a deal to play in Japan.

More must-reads:

• Brief MN Twins Outfielder Receives Record Payday
• MN Twins Take Trophy for MLB’s Unhappiest Fanbase
• Failed MN Twins Infielder Finds Work Out West