Pohlad family will remain Minnesota Twins owners, add 2 limited partners

Pohlad family to remain principal owners of MN Twins

FOX 9's Rob Olson has the latest on the Pohlad's decision to keep the Minnesota Twins and bring in some investors.

MINNEAPOLIS (FOX 9) - After considering offers to sell the team in recent months, the Pohlad family said in a statement on Tuesday they will remain the owners of the Minnesota Twins.

Pohlad family keeping team

What they're saying:

In a statement, the Pohlad family said: "Over the past several months, we explored a wide range of potential investment and ownership opportunities. Our focus throughout has been on what’s best for the long-term future of the Twins. We have been fully open to all possibilities."

However, after "a detailed and robust process," the Pohlad family says it will remain the principal owners of the Minnesota Twins.

Pohlad family walks back decision to sell Minnesota Twins

The Pohlad family issued a statement Wednesday morning saying they've decided to stay on as the Minnesota Twins majority owners despite getting multiple offers for the team. The family announced last fall they were putting the team up for sale.

Dig deeper:

The Pohlad family says they will add "two significant limited partnership groups" to the fold with the team.

The statement says: "To strengthen the club in a rapidly evolving sports landscape – one that demands strong partnerships, fresh ideas, and long-term vision – we are in the process of adding two significant limited partnership groups, each of whom will bring a wealth of experience and share our family values."

The transactions will be subject to approval by Major League Baseball.

Twins Daily's John Bonnes reacts

What they're saying:

John Bonnes of Twins Daily joined FOX 9's All Day, and spoke with FOX 9's Rob Olson, about what Wednesday's news means. In his opinion, the Pohlad family remaining principle owners is bad news for Twins' fans.

"They have not shown an ability to really grow the franchise or invest in the franchise to the point where Twins fans can feel proud and excited about the future of the team," Bonnes said.

He believes the Pohlad family's price to sell was probably too high to reach a deal, but they still needed to raise capitol.

"One way or the other, after 10 months of exploring this, they couldn’t find somebody who was going to buy it for the full amount. So it appears they are selling off pieces of it to try and raise some money," Bonnes said.

Bonnes also reacted to the possibility of selling part of the team to minority investors.

"Whether or not that minority ownership can significantly impact the direction of the franchise, I mean we’ll have to see," Bonnes said.

Twins' fire sale before trade deadline

Local perspective:

Many close to the Twins thought an ownership transition might be in the works after the front office traded 10 players in a 24-hour span before Major League Baseball's trade deadline at the end of July. The Twins' fan base has become increasingly frustrated with the Pohlad family after the franchise won its first playoff game and series in two decades two years ago, then the team's payroll got slashed by $30 million amid uncertainty with their TV broadcast situation.

It led Twins' fans to protest at Target Field at the end of last seasn.

On the field, the Twins are on pace to miss the American League Playoffs for the fourth time in five seasons.