The Twins’ play on the field during May has given the team an opportunity to pull off its ultimate goal later this summer.
The Twins’ ownership has done the same.
Potential buyers of the franchise have visited Minneapolis over the past 2-3 weeks to tour Target Field and meet with the Pohlad family and the team’s executives, a sign that progress is being made toward a sale, according to multiple sources with knowledge of the process.
Several parties have shown interest in making an offer, one such source said, and the process is now in “the latter stages” of due diligence and fact-gathering.
“The sale is a lot closer to the end than to the beginning,” that source said.
The Pohlad family, which has owned the team since Carl Pohlad purchased it from Calvin Griffith for $44 million in 1984, announced in October that they were exploring a possible sale. Carl Pohlad’s three sons, who inherited the team when he died in 2009, and seven grandchildren are seeking at least $1.5 billion, according to multiple reports.
A sale appeared imminent in December and January, when Justin Ishbia, a billionaire mortgage lender and co-owner of the NBA’s Phoenix Suns, declared his interest in the Twins and met with several prominent Minnesotans to explore the franchise and find potential investors to partner with.
Ishbia’s aggressive pursuit scared off other potential buyers, one source said, because when he abruptly announced in February that he was increasing his stake in the Chicago White Sox instead, “new parties immediately came into the [Twins’] sale process.”
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