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Twins may go to twin-ownership group T'wolves, Wild ownerships may chip in for baseball team
Posted: Thursday October 14, 1999 06:46 PM
ST. PAUL, Minn. (AP) -- Minnesota Twins owner Carl Pohlad agreed Thursday to sell his team to Timberwolves owner Glen Taylor and Wild lead investor Robert Naegele Jr. if a new stadium is built. St. Paul Mayor Norm Coleman, wearing a Minnesota Twins jacket, announced the proposed sale at a news conference Thursday night and expressed gratitude to the Pohlad family. Coleman has sought the sale as part of a plan to build a new stadium along the city's riverfront. "I'm pleased to announce that a letter of intent to purchase the Twins has been signed by an ownership group led by Glen Taylor and Bob Naegele Jr.," Coleman said. WCCO-TV reported earlier the purchase price of the team would be $120 million. Under the agreement, Pohlad would hand over control of the team to Taylor, owner of Minnesota's NBA team, and Naegele, managing partner of the NHL's expansion Wild. Announcement of the sale is one of many hurdles that supporters of a new St. Paul stadium have to jump in order for a new ballpark to become a reality. Any deal would be contingent on St. Paul voters approving a Nov. 2 referendum that includes a financing plan. The deal also would need approval from the Minnesota Legislature, where opposition is considerable. Gov. Jesse Ventura also does not support public funding of a new ballpark. In addition, major league baseball owners must approve any transfer, a process that usually takes six to 18 months. State Sen. John Marty, an opponent of taxpayer' funding of a new ballpark, said he doesn't think the deal would change many minds. But he said lawmakers do have a great deal of respect for Taylor, a former state legislator. In an interview, he said he still thinks the deal would be "dead on arrival" at the Legislature. St. Paul voters will decide next month whether to approve a sales tax increase that would finance one-third of a new $325 million stadium. Under Coleman's plan, the Twins would pay one-third and the state would be asked to pay for the other third of the outdoor park. Pohlad had reportedly turned down at least two offers in the last two years, most recently one from Minneapolis lawyer Clark Griffith, who said he offered between $110 million and $120 million for the club. Griffith is the son of Calvin Griffith, who sold the team to Pohlad in 1984.
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