AN MLB team has suffered an “embarrassing” plunge in attendance due to its ownership sale.
The Minnesota Twins fans have refused to show up during a poor start to the season.
This is down to the sale of the ownership dragging on.
Front Office Sports has reported that the Pohlad family’s asking price has caused the sale to stall.
The team has been up for sale since October with the Pohlads rejecting a bid worth $1.5billion from Allen & Company.
The report claims that the current owners are seeking an offer worth $1.7bn in order to sanction a sale.
The asking price is believed to be $50m higher than the franchise’s valuation, according to CNBC’s Michael Ozanian.
He claimed that the Twins are worth $1.65m – higher than just eight of the 30 MLB team.
As a result, the attendance at Target Field has plummeted this season.
The match against the Mets saw only 10,240 tickets sold.
If all ticket buyers did turn up to the game, it would still be the lowest official attendance at Target Field in its 15 years, besides COVID times.
On average there has been fewer than 18,000 fans at each game, which is the seventh worst in the league.
The Pohlads appear to have set their asking price in line with the sale of the Baltimore Orioles.
The team was bought by billionaire private equity executive David Rubenstein in 2024 for $1.725bn
Reports also claim that another sticking point is the Twins’ debt of $425million.
The MLB must approve debt in order to ensure a team can maintain its fiscal stability.
The league can offer emergency financial help if debt rises too much but the specifics of the rule is not known publicly.
Co-chair of the sports law group at Herrick told FOS: “I haven’t heard anything about the Twins being in distress.
“So certainly, at least in the opinion of MLB, it seems to be within the realm of approved debt.”
The Twins are currently fourth in the American League Central division with a record of 7-14.
Read More Details
Finally We wish PressBee provided you with enough information of ( MLB team suffer ’embarrassing’ plunge in attendance as ownership sale drags on in poor start to 2025 season )
Also on site :
- Tyler Buchner ‘under consideration’ to return to QB, says Marcus Freeman
- What will the IMF and World Bank do in the latest economic crisis?
- Republican Nancy Mace fields concerns over university funding during South Carolina town hall