The Pohlad family, which has owned the Twins since 1984, announced in October 2024 that the franchise was for sale, with a $1.7 billion asking price. The Pohlads retained investment bank Allen & Company to guide a potential sale.

Front Office Sports reported on Wednesday that there is momentum toward a sale after the process had stalled earlier this year. Billionaire suitors Mat and Justin Ishbia ended their interest in buying the team and instead, according to reports, increased their stake in the Chicago White Sox in February.

The Minnesota Star Tribune reported Tuesday that other suitors have traveled to Minneapolis in the past two to three weeks to tour the stadium and meet with the family and team executives.

The Pohlads rejected a bid of $1.5 billion, according to Front Office Sports. The franchise is valued at $1.65 billion, 22nd out of 30 MLB teams, according to CNBC calculations last month. Forbes and Sportico estimated in March that the Twins are valued between $1.5 billion and $1.7 billion.

For a recent comparison, the Baltimore Orioles were sold in 2024 for a reported $1.725 billion to private-equity executive David Rubinstein.

One possible friction point for potential buyers is the Twins’ $452 million in debts, according to multiple reports.

The late Carl Pohlad paid $44 million to buy the Twins. Since his death in 2009, his son Jim has been the controlling owner. Jim’s nephew, Joe Pohlad, has been handling primary administration responsibilities since 2022.