Justin Ishbia has dropped his bid to purchase the Minnesota Twins in lieu of buying the White Sox. This was first reported by Jon Greenberg of The Athletic. Ishbia already owns minority shares of the White Sox and is looking to buy the shares from other minority owners. Greenberg’s sources said this was a move for all Ishbia to take control of the team eventually; however, a spokesperson for the White Sox disputed that idea.
Justin Ishbia Has Eyes On Twins
At the end of the 2024 season, the Pohlad family announced they were exploring options to sell the team. The Pohlad family has owned the team since 1984, when Carl Pohlad bought the Twins for $44 million, and his grandson, Joe Pohlad, currently manages it.
Initially, all frontrunners for new owners were simply speculation. During the winter meetings in December, Ishbia, co-owner of the Phoenix Suns with his brother Mat, was reportedly interested in the Twins. According to multiple sources for The Athletic, Ishbia had gone as far as forging local relationships. This includes meeting with community leaders and reaching out to potential minority owners. These moves by Ishbia, worth an estimated $5.4 billion by Forbes, helped support the idea that many in the organization thought the team would be sold by opening day.
In 2021, Ishbia bought a minority share in the White Sox. While looking at buying the Twins, it was clear he would need to sell those minority shares. The Ishbia brothers are residents of Chicago, where their company, Shore Capital Partners, is based. As early as January, sources for Dan Hayes of The Athletic were made aware of Ishbia’s move to the White Sox. The sources also mentioned that this would open the door to other prominent prospective buyers who originally thought that Ishbia was “preordained” as the next owner.
Where Do the Twins Go From Here?
Talking to Phil Miller of the Star Tribune, former Twins president and now advisor, Dave St. Peter shared his thoughts. He noted “…there is a lot of continued speculation [about a new owner]”. St. Peter pointed out that the Twins do not want to get into the mix of stating who is in or out of being a potential owner. The Twins can merely “sit and wait” to find their new owner. Valued at $1.5 billion on Forbes and $1.7 billion on Sportico, the team can continue their vetting process in determining who can fit the bill for the franchise. Ishbia’s shift in focus does question his commitment to owning the Twins. It is more important to wait for an owner who will fully commit to the team than to let others use the Twins as a backup plan for MLB ownership.
Another possibility is the Pohlad family takes the Twins off the market. In the past, MLB teams, such as the Los Angeles Angels and Washington Nationals, have removed themselves from the market. This is because potential owners failed to meet expectations or the asking price. However, this would also mean no major shifts in spending and continued financial constraints on the front office.
Sit And Wait
Much like the Twins, all their fans can do is sit and wait for the next owner. While the Pohlad family maintaining their ownership means stability for the team, it also means a continuation of a restrained payroll. Fans want a fresh mindset and a change in strategy from ownership. To get this, they will need to remain patient, just like the current owners.
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