MINNEAPOLIS — The Minnesota Twins are no longer for sale, executive chair Joe Pohlad announced Wednesday on behalf of his family.After exploring a variety of options since publicizing the sale 10 months ago, the Pohlad family will remain the principal owner of the club and add new investors instead. Carl Pohlad, a banking magnate and the late grandfather of Joe Pohlad, purchased the Twins in 1984 for $44 million.“For more than four decades, our family has had the privilege of owning the Minnesota Twins. This franchise has become part of our family story, as it has for our employees, our players, this community, and Twins fans everywhere,” Joe Pohlad said in his announcement. “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.”Pohlad said the family was in the process of adding two “significant” limited partnership groups to bring in fresh ideas, bolster critical partnerships and shape the long-term vision of the franchise that relocated to Minnesota in 1961 after originating as the Washington Senators. Details about the new investors were being kept private until Major League Baseball approval of the transactions, Pohlad said.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 them higher.The Pohlads hired Allen & Company, a New York-based investment bank, to direct the sale and keep inquiries confidential. Multiple published reports identified Justin Ishbia, a part …
