Report: Minnesota Twins Have Offer on the Table

To the excitement of fans around Twins Territory, the Pohlad family announced back in October that the Minnesota Twins were up for sale, something we’ve been waiting a long time to hear.

Originally, there was hope that billionaire Justin Ishbia would step up and buy the team, but he decided to stick with the AL Central team he already had an interest in, the White Sox.

Since Ishbia dropped out of the running, all has mostly been quiet on the sales front, outside a couple interested visitors who have reportedly toured Target Field in recent months.

Minnesota Twins back sale on the right track?

Thankfully though, as we inch closer to the one-year mark since the sale of the Twins was announced, it sounds like things might finally be moving in the right direction.

This weekend, Charley Walters of the Pioneer Press is reporting that the Pohlads “have a deal on the table” and that the MLB is even guaranteeing their $400 million in debt that they want included in the final purchase price.

“Industry sources say the Twins, who began exploring a sale last October and have sought $1.7 billion for the team, have a deal on the table and that bidding to line up financing is underway. Meanwhile, Major League Baseball is expected to guarantee the Twins’ debt, reportedly more than $400 million. After seeing financial books, some potential buyers backed off due to the team’s lack of cash flow.”

Charley Walters – Pioneer Press

A lack of cash flow is likely a reflection of the uncertain future for the broadcast market. It also doesn’t help that attendance has seen a significant decline and that current ownership failed to invest in a team that had just experience more postseason success than any other time in the last three decades.

The Pohlad’s believe their asset is worth $1.7 billion while Forbes says it’s closer to $1.5 billion. The Tampa Bay Rays are also exploring a sale, and despite a cheaper Forbes valuation ($1.25B), the Rays already have offers for $1.7 billion, a number that undoubtedly got Twins owners excited.

Twins sale still far from finish line

There are complicating factors for a potential sale, however. Walters writes that the new tax bill signed this week only allows for 50% of a franchise sale to be amortized over a 15-year period. Previously, they were about to write off and make payments on all of it.

“For the last 21 years, buyers of professional sports franchises have been able to write off 100 percent of the cost amortized over a 15-year-period. With Congress’ passing of the mega tax bill last week in Washington, only 50 percent now can be written off. That potentially could affect the price of future franchise sales, including the Twins.”

Charley Walters – Pioneer Press

With less than a month until the trade deadline, Minnesota Twins fans have to hold out hope that this sale will be done soon enough for new owners to take over baseball operations, prior to the start of next season.

Related: Rocco Baldelli Gives MN Twins Another Managerial Milestone

Derek Falvey was recently promoted with Jeremy Zoll taking over his job. The front office picked up Rocco Baldelli’s 2026 option. Despite his recent 500th managerial win, it’s possible a new group will want to bring in their own people.