Twins Add 3 Limited Partners, Change Ownership Control Person

Minnesota Twins ownership has finalized the purchase of portions of the franchise by three different investors, limited partnerships the Pohlad family sought for a fresh infusion of cash and strategy after deciding earlier this year to retain control of the club.

The Twins also announced Wednesday a plan to make Tom Pohlad the controlling owner and primary liaison to the league in place of his younger brother, Joe Pohlad, as part of a new executive leadership structure coinciding with the new investors.

Major League Baseball approved the acquisition of non-controlling minority interests in the Twins by Glick Family Investments, a multi-generational New York venture capital firm; a group of Minnesota business leaders spearheaded by George Hicks; and Minnesota Wild owner Craig Leipold.

Neither the purchase prices or size of the stakes were disclosed. Financial analysis earlier this year by Forbes valued the franchise at $1.5 billion, ranked 23rd in MLB. Sportico ($1.7 billion) and CNBC ($1.65 billion) pegged the Twins a bit higher.

Joe Pohlad, 43, served as executive chair for three years. Tom Pohlad, 45, has never had a role with the baseball club before, previously serving as executive chairman of Pohlad Companies in overseeing the family's diverse portfolio of businesses. Their uncle, Jim Pohlad, was chairman of the Twins until 2022. Their grandfather, Carl Pohlad, built his fortune in banking and bought the Twins in 1984 from Calvin Griffith for $44 million. He died in 2009.

MLB must approve Tom Pohlad becoming control person.

"It is a profound honor to have the opportunity to continue a legacy that has been part of my family — and this community — for the past 40 years," said Tom Pohlad said in a statement distributed