A year ago, Twins fans were given reason to believe that the endless cycle of Pohlad family ownership might finally be nearing its conclusion. Instead, the supposed light at the end of the tunnel turned out to be nothing more than a painted brick wall—in the form of two minority ownership groups whose buy-ins were used to help cover the family’s reported $400 million in debt. Rather than accepting what was rumored to be at least one serious, competitive bid for the franchise, the Pohlads chose to maintain their majority stake in the team. The decision kept control firmly in the same hands that have long frustrated fans, even as outside interest in full ownership appeared both real and aggressive.

Last weekend, Charlie Walters reported what many around Twins Territory have been wondering for months: the Pohlad family still plans to sell the Minnesota Twins. After exploring the market over the past year, they were unable to find the valuation they wanted. The expectation now is that they will bring the team back to market next offseason when conditions may be more favorable.

The challenge is that Major League Baseball’s labor agreement is set to expire on Dec. 1, 2026. Commissioner Rob Manfred has already made it clear that owners intend to make their strongest push yet for a hard salary cap, along with expanded revenue sharing. The possibility of a lockout looms large, creating significant uncertainty for any prospective buyer.

“The Pohlads are expected to wait until baseball’s labor agreement is settled after next season, then hope to get the price they want,” Walters wrote. “But a lockout seems likely, because baseball’s owners are hell-bent on getting a salary cap.”

The Lockout Question
The last round of CBA negotiations in 2022 provided a preview of what can happen when owners and players clash. From the Twins’ perspective, that dispute delayed free agency, leading to the team signing Carlos Correa to a short-term deal that evolved into an unusual courtship and ultimately resulted in a long-term contract. That deal didn’t work out in the team’s favor in the long term, but he did help Minnesota end its two-decade playoff losing streak. 

This time around, the negotiations are expected to be even more contentious. The owners are determined to establish a salary cap, while the MLBPA is just as determined to resist. If neither side relents, regular-season games in 2027 could be lost. That type of instability is a significant concern for anyone considering a multi-billion-dollar purchase.

Minority Partners in Position
Reports earlier this summer suggested that the new minority investors in the Twins do not have a built-in path to majority ownership. However, Walters indicated that these partners may hold a right of first refusal if the Pohlads decide to sell. The investors are believed to have spent around $200 million each to join the ownership group, potentially with the understanding that they could match any future outside offer.

That arrangement does not guarantee a smooth sale. A right of first refusal only provides an opportunity to match the price, and if franchise values rise once the labor issues are resolved, the cost could be higher than these partners anticipated.

The same labor battle that complicates a sale might also make the Twins a more valuable franchise in the long run. If owners succeed in implementing a salary cap and stronger revenue sharing, small- and mid-market clubs would become more profitable and more attractive investments. The Pohlads may be betting on that outcome before finalizing their exit.

What It Means for Twins Fans
For now, the Twins continue to operate under Pohlad ownership, and the front office remains focused on roster construction and development. The long-term picture, however, is unsettled. The family has owned the team since 1984, but the possibility of a sale feels more real than it has at any point in the last 40 years.

Whether the Pohlads choose to sell next year or wait until the labor dispute concludes will shape the franchise’s future. Until then, Twins fans are left to watch both the standings and the business side of baseball with equal curiosity.

Will the Pohlads attempt to sell the team after a new CBA is in place? Leave a comment and start the discussion.