Unfortunately, because the current members of the family have struggled to manage their wealth, the franchise had absorbed a considerable amount of debt. That made a true sale of the team impossible and instead turned the transaction into a debt absorption deal in exchange for equity.

For months we’ve heard that two minority partners were joining the ownership group, but their identities remained unclear. With the Winter Meetings beginning this week, and reports circulating that Minnesota plans to build around its current stars, this was the right moment for news to break.

Minneapolis-Based Twins Partner Unveiled

The Pohlad family confirmed earlier this year they would remain in control of the Minnesota Twins but that two minority partners were coming aboard. Until now, the only information publicly available was that one group was local and the other was based on the East Coast. Pioneer Press columnist Charley Walters has now revealed the Minnesota-based partner.

Look for Minneapolis-based Varde Partners, a worldwide multi-billion dollar credit investment corporation, to be announced soon as a limited partner with the Minnesota Twins. The firm is one of at least two limited partners expected to assist in diminishing the team’s reported $500 million debt.

Charley Walters – Pioneer Press

Varde Partners, a global credit and investment firm headquartered in Minneapolis, has joined the ownership group. The firm is led by managing partners Brad Bauer, Francisco Milone, and Tim Mooney.

Given their track record and success in the financial world, it’s hard to imagine they don’t have bring significantly more business acumen than the current iteration of Pohlads. Reports indicate Varde manages between $16-17 billion in assets and employs more than 300 people globally.

What This Means for the Twins

It remains to be seen how these minority partners will influence the direction of the team. Their financial involvement should help reduce the Pohlads substantial debt load, and ideally, the addition of more motivated and business-savvy individuals will lead to increased investment in building a competitive roster.

With one of the two minority owners now identified, it wouldn’t be surprising if the second partner is revealed in the near future as well.