Justin Ishbia Reportedly Interested in Buying Minnesota Twins
In a move that could shake up Major League Baseball, Justin Ishbia, a minority owner of the Phoenix Suns and brother of Suns majority owner Mat Ishbia, is reportedly eyeing the purchase of the Minnesota Twins. A source with knowledge of the situation confirmed the news to ESPN on Friday, sparking speculation about what this could mean for the Twins and their future.
The timing of this potential sale is significant. Back in October, the Pohlad family, who have owned the Twins for an impressive four decades, announced their intention to explore selling the team. This decision could mark the end of one of the longest-running ownerships in MLB history. The Twins, who finished the 2023 season with a record of 82-80, missed the playoffs for the third time in four years, leaving fans wondering if a change in ownership could bring a fresh start.
Who Is Justin Ishbia?
For those unfamiliar with Justin Ishbia, he’s no stranger to big business and high-stakes investments. Forbes estimates his net worth at nearly $5 billion, thanks in large part to his role as the founder and managing partner of Shore Capital Partners, a private equity firm based in Chicago. But his ties to professional sports run deep as well. Justin played a key role in his brother Mat’s acquisition of the Phoenix Suns and the Phoenix Mercury earlier this year. That deal, finalized in February 2023, valued the Suns and Mercury at a staggering $4 billion.
Justin currently holds a 22% stake in United Wholesale Mortgage, the company led by his brother Mat. He also serves as the alternate governor for both the Suns and Mercury, giving him a front-row seat to the business side of professional sports. Now, it seems he’s ready to expand his portfolio into Major League Baseball.
The Twins: A Team in Transition
The Minnesota Twins have been a staple of MLB since their founding, and under the Pohlad family’s ownership, they’ve seen their fair share of highs and lows. The Pohlads purchased the team in 1984 for $44 million, a figure that seems almost laughable compared to today’s valuations. According to estimates, the Twins are now worth between $1.5 billion and $2 billion, making them a prime target for a high-profile buyer like Ishbia.
Allen & Company, the investment bank handling the sale, has been tasked with finding the right buyer for the team. If Ishbia’s interest turns into a formal bid, it could set the stage for a new era in Twins baseball. But what would that look like? Would Ishbia bring the same aggressive, high-spending approach that his brother has shown with the Suns? Or would he take a more measured, long-term view of the team’s success?
What’s Next?
While no formal offer has been made yet, the news of Ishbia’s interest has already sparked plenty of buzz. Bloomberg was the first to report on the story, and it’s safe to say that fans and analysts alike will be keeping a close eye on any developments. For now, here’s what we know:
- The Pohlad family has owned the Twins for 40 years and is now exploring a sale.
- The Twins are valued between $1.5 billion and $2 billion.
- Justin Ishbia, with a net worth of nearly $5 billion, is reportedly interested in buying the team.
- Allen & Company is facilitating the sale.
It’s worth noting that the Twins have struggled to find consistent success in recent years. Missing the playoffs three out of the last four seasons has been a tough pill to swallow for fans, and a change in ownership could be the shake-up the franchise needs. Whether Ishbia is the right person to lead that transformation remains to be seen, but his track record in business and sports ownership certainly makes him a compelling candidate.
Final Thoughts
As the story unfolds, one thing is clear: the potential sale of the Minnesota Twins is a big deal, not just for the team but for Major League Baseball as a whole. If Justin Ishbia does end up buying the team, it could signal a new chapter for the Twins and their fans. For now, all eyes are on the Pohlad family, Allen & Company, and, of course, Justin Ishbia himself. Stay tuned—this is a story that’s just getting started.
Originally Written by: Unknown
