Overview

• Executive chair Joe Pohlad said the family will remain controlling owner while adding two investor groups as minority partners with board seats but no path to control.
• The incoming partners will invest at a valuation in line with the previously sought $1.7 billion, providing capital to reduce about $400 million in franchise debt.
• Major League Baseball approval is required before the minority-stake sales can close and the new board members assume their roles.
• In late July, the Twins traded roughly 11 players, including shortstop Carlos Correa, as part of a fire sale that cut payroll by more than $80 million.
• The roster teardown and pivot away from a full sale have provoked fan protests at Target Field and contributed to a dip in attendance this season.