Immediately after the Minnesota Twins’ historic 2023 season ended, ugly storylines began to surface from within the organization. Ownership decided that, coming off their most successful season in decades, it was time to cut player payroll. Apparently, winning doesn’t always pay.
Minnesota Twins lopped off nearly $30 million
We knew the Twins had cut about $30-$35 million, depending on who you asked. On Wednesday, thanks to Dan Hayes (The Athletic) , we got the exact amount that Joe Pohlad demanded president of baseball operations, Derek Falvey, cut from the payroll between the 2023 and 2024 seasons.
With the team’s TV rights deal in flux, ownership ordered that payroll be cut by $27 million, which would limit what they could do for a roster primed for another postseason run.
Dan Hayes on the Minnesota Twins payroll
Despite soaring fan interest, and the increasing payrolls in recent seasons, the Minnesota Twins pulled back. 2023 saw a payroll surpass $150 million for the first time in franchise history. The organization was finally getting on board with being near league average. They were rewarded by a postseason run further than anything they had experienced in recent memory.
Payroll killed the Minnesota Twins trade deadline
Although they were in on Toronto Blue Jays starter Yusei Kikuchi, Minnesota’s only move was adding middling reliever Trevor Richards. Kikuchi went for a massive prospect return, and dollars alone wouldn’t have made that deal make sense. Other options couldn’t be explored though, as adding anything to the bottom line was virtually a non-starter .
The bullpen needed a left-handed reliever. Instead of getting one, the Twins front office was forced to settle for a right-handed arm with reverse splits. For the Pohlad’s, the key was that Trevor Richards is only owed around $700,000 the rest of the way.
Joe Pohlad has spoken publicly about needing to “ right-size ” the business. The Minnesota Twins are not the only business venture the family is invested in. They also acquired the team for about $30 million, and it’s valuation now starts in the billions.
Related: Report: Minnesota Twins Tried to Trade for Yusei Kikuchi
After selling off the Carousel Motor Group recently, it could be understood that the Pohlad family is failing in other business ventures. It’s unfortunate that the baseball team gets to be the hedge fund they pull from to make up for that. Fans are the ones who suffer.
Don’t worry though, the decision to continue holding back was rewarded by the Pohlad’s lining their pockets. MLB announced a $15 million subsidization of team’s impacted by television issues.
Like the deal they renegotiated with Bally Sports for the season, those funds go unspent. A $27 million decrease, combined with the $15 million addition, and the one-year TV deal assumed around $38 million, the Pohlad’s should net something like $27 million off the top.
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