Pohlad family plans to sell Minnesota Twins after 40 years of ownership

The Pohlad family will sell the Minnesota Twins after 40 years of ownership, they announced on Thursday.

“For the past 40 seasons, the Minnesota Twins have been part of our family’s heart and soul," executive chair Joe Pohlad said in a statement. "This team is woven into the fabric of our lives, and the Twins community has become an extension of our family. The staff, the players, and most importantly, you, the fans – everyone who makes up this unbelievable organization – is part of that. We’ve never taken lightly the privilege of being stewards of this franchise."

“However, after months of thoughtful consideration, our family reached a decision this summer to explore selling the Twins. As we enter the next phase of this process, the time is right to make this decision public."

The Pohlads purchased the Twins from Calvin Griffith for $44 million in 1984. It is believed to now be worth as much as $1.5 billion.

More to follow on this developing story.