Potential Minnesota Twins Buyers Spooked by Massive Debt

There’s been some steam rising lately surrounding the ongoing sale of the Minnesota Twins. Last week, during the MLB All-Star Break, commissioner Rob Manfred seemed extremely confident in a deal getting done, essentially saying a sale is imminent, and that the Pohlads will get their full $1.7 billion asking price.

When you look at the comps, it seems reasonable. The Baltimore Orioles and Tampa Bay Rays recently sold for ~$1.7 billion, so you’d have to think the Twins are worth that too. Unfortunately, Forbes disagrees, valuing the Pohlad-owned MLB organization at $1.5 billion in 2025.

Lots of good Minnesota Twins sale news lately…

Just days after Manfred all but guaranteed a Twins sale during All-Star week, Star Tribune columnist LaVelle E. Neal reported that a local purchasing group of wealthy luminaries has formed with very serious intentions to get in on this deal.

The group’s problem, however, has been an absence of a lead investor, or “anchor” who can take on most of the $1.7 billion asking price. You know, some people are rich… and some are stupid rich. But LaVelle came with good news, too. Recently, they caught the big fish investor they need.

“They really didn’t have a lead dog to be that anchor investor. Apparently that anchor investor has emerged. So, things are moving in a positive direction here.”

LaVelle E. Neal – Chin Music Podcast

Without a doubt, the recent sale of the Rays helped the Pohlads’ chances of getting the price they’re looking for on the Minnesota Twins. You can’t help but feel optimistic after reading LaVelle’s full report, either.

Pohlad debt causing problems

But of course, nothing comes easy in this town. And you cannot discuss the sale of the Minnesota Twins without noting the $450 million elephant in the room. According to Bob Nightengale (USA Today), that’s where the organization’s debt currently sits… a reality that he says is spooking potential buyers.

While MLB is still confident that the Minnesota Twins will be sold in the near future, potential buyers are balking at the approximate $450 million in debt on the Twins’ books, to go along with their $1.7 billion price tag.

Bob Nightengale – USA Today

Carl Pohlad paid just $44 million for the team in 1984, and as we probably could have expected, the family members in his will are trying to squeeze every last cent before they say goodbye.

Many believe that part of the Twins’ debt is not from baseball business, but instead, other failed business ventures. They have ownership stakes in commercial real estate, among other things, and let’s just say that not all of their other investments have gone as smoothly as they would have hoped.

Related: Secret High Roller Emerges to Anchor New MN Twins Ownership Group

Last winter, for example, they were forced to sell off a slew of car dealerships. There is a belief that the Pohlads folded some of that bad debt into the baseball team or possibly took loans out against the Twins, to cover some of their non-baseball failures.

What Minnesota eventually sells for remains to be seen. How the debt is accounted for, and the impact it has on the bottom line, is something any seriously interested buyer will be conscious of. Will it ultimately become an even bigger issue than it has been, to this point? Let’s hope not.