New Spend-Happy Billionaires Emerge with Reported Interest in Buying the Minnesota Twins…

Interested parties have emerged as possible buyers of the Minnesota Twins, since they were put up for sale by the Pohlads, in the fall. The most recent reports, however, have indicated the cost to buy is currently too high.

That doesn’t sit well with Twins fans who are watching a now disinterested Pohlad family completely pull the financial rug from underneath the Major League Baseball organization they no longer have any interest investing into. But on Friday, we got some potentially groundbreaking news that could very well shift the narrative.

Ishbia brothers are interested in the Minnesota Twins

If you could create a major professional sports owner that combined Steve Cohen and Mark Cuban, you’d come up with something close to Mat (and Justin) Ishbia, who purchased the Phoenix Suns and Mercury (WNBA) in December, 2022.

In just two short years, the Ishbias have established themselves as one of the most competitive, spend-happy ownership groups, not just in the NBA… but in the entire professional sports world. And on Sunday, multiple MLB insiders have come out with reports that Mat and Justin Ishbia are interested in purchasing the Minnesota Twins.

A source briefed on the situation confirmed that Suns owner Mat Ishbia and his brother Justin are interested in buying the Twins from the Pohlad family, which began exploring a sale in October after 40 years of ownership. Mat Ishbia, whom Forbes estimated has a net worth of $10.1 billion, purchased the Suns in December 2022.

Dan Hayes on the interest in Minnesota from Ishbia brothers (The Athletic)

Mat is just 44 years old and has shown an affinity to be present around his teams. Justin is 47 years old and just made a $10 million NIL donation to Michigan State dedicated to baseball and basketball payments. Justin knows the Midwest well with his Shore Capital Partners investing firm, located in Chicago.

How excited should Twins fans get over this news?

How serious are the Ishbias? Serious enough that they have already been “meeting with local community leaders across the state” in order to learn more about the organization, and whether or not a massive ~$1.5 billion investment in the Northstar State would be worth it.

“The 47-year-old [Justin Ishbia] has been meeting with local community leaders across the state to learn more about the community and the opportunity to carry on the Twins legacy, one person said.”

Bloomberg report on Justin Ishbia’s interest in the Twins

From my experience covering and aggregating news stories like this, the fact that we are hearing about the Ishbias’ interest in the Twins, means their preliminary investigation is either wrapping up, or already complete.

Related: Minnesota Twins Sale Attracting Interest but Asking Price is a Problem

Just months after acquiring the NBA team, new ownership went out and landed Kevin Durant. They also have experience dealing with Diamond Sports Group, and left Bally Sports Network in order to air games on local channels. An early Suns giveaway included a free cable antenna for all fans in the stadium.

The Ishbias would immediately inject life into apathetic Minnesota Twins fanbase

Ishbia generated his wealth as the CEO of United Wholesale Mortgage. Should he buy the Twins, he would be the third richest owner in the sport trailing only Steve Cohen and Edward S. Rogers. His brother Justin, who would be the controlling partner, is worth $4.9 billion.

What little I know about Mat and Justin Ishbia:

– They've made aggressive moves and spent big money on the Suns.

– They donated over $40 million to fund Michigan State's basketball and baseball programs.

– Mat played basketball for MSU's title-winning 2000 team under Tom Izzo.

— Aaron Gleeman (@AaronGleeman) December 13, 2024

Related: Minnesota Twins Still Near Top of 2025 AL Central Odds; White Sox Prove Life Could Be Worse

Even at the currently inflated price point of $1.7 billion, Ishbia could cover the deal. Minnesota will seek an arrangement near the $1.725 billion Baltimore sold for. Whether they get that remains to be seen. An independently wealthy billionaire is who fans should want to take over, but someone with personal interest is important as well.

The possibility of an owner with a net worth two-and-a-half times as much as the Pohlad family is exciting. Of course no one needs to spend to the New York Mets level in Minnesota, but it would seem to remove self-imposed payroll restrictions.

No matter what, after 40 years of owning the Twins, Minnesota will feel different when out of the Pohlad’s grasp. How different depends to whose hands they move.