Major eruptions are occurring in the Minnesota Twins front office. The Pohlad family today announced two major changes to the team’s management structure. First, they announced the addition of three investors to the franchise’s ownership group. And in a bombshell, the family announced that Tom Pohlad will succeed his brother Joe as executive chairman of the Twins.
The moves are a strong indication that the family intends to retain their majority ownership of the team for the foreseeable future. What is less clear is how the addition of the three investors and the change at the top of the Twins organizational chart will raise the cap on how much the Pohlad’s are willing to spend on the franchise’s player payroll. And will those changes affect the salary total for next season, or will they forestall this action for a later date?
Twins Announce Three New Investors
Finally, after four long months, the identities of the Twins’ new minority investors have been revealed. The first is a business group headed by Glick Family Investments, a multi-generational New York venture capital firm; a group of Minnesota business leaders led by George Hicks; and a name very familiar to Minnesota sports fans. Craig Leipold, the majority owner of the Minnesota Wild NHL franchise, is coming on board as a limited partner of the franchise.
The addition of Leipold to the fold should be a captivating development for Minnesota fans who are thirsting for a world championship from one of their male sports franchises. Although the Wild have never captured a Stanley Cup during Leipold’s reign, they have also not hesitated to devote large sums of money to improve their roster. This was in full view last week when they traded three young players and a future first-round draft choice to the Vancouver Canucks for All-Star defenseman Quinn Hughes.
Joe Pohlad Gets the Boot
In the other blockbuster move announced by the Twins today, the unpopular Joe Pohlad, the team’s executive chairman, is being replaced by his older brother, Tom. Twins fans loathe Joe for his annoyingly vague statements about the direction of the franchise and his frequent disappearing acts when his motives were questioned by the local media. Tom, who had previously served as the executive chairman of Pohlad Companies, like Joe, is a grandson of long-time team owner Carl Pohlad, who passed away in 2009.
Tom Pohlad issued this statement after the Twins announced the two major developments.
“My uncle and my brother have led this organization with integrity, dedication, and a genuine love for the game. As I assume my new role, I do so with great respect for our history and a clear focus on the future — one defined by accountability and stewardship in our relentless pursuit of a championship.”
Long-suffering Twins fans certainly hope so.
