Report: The Minnesota Twins are No Longer for Sale

The Minnesota Twins have been for sale for some time, but are now reportedly off the market as of Wednesday morning.

In a surprising turn of events, the Pohlad family released a statement on Wednesday morning confirming that they no longer plan to sell their majority stake in the franchise.

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The Minnesota Twins are no longer for sale, executive chair Joe Pohlad announced Wednesday on behalf of his family.

After exploring a variety of options over the past 10 months, the Pohlad family will remain the principal owner of the club and add new investors instead. Carl Pohlad, a banking magnate and the late grandfather of Joe Pohlad, purchased the Twins in 1984 for $44 million.

Pohlad said the family was in the process of adding two "significant" limited partnership groups to bring in fresh ideas, bolster critical partnerships and shape the long-term vision of the franchise that relocated to Minnesota in 1961 after originating as the Washington Senators. Details about the new investors will be kept private until Major League Baseball approves of the transactions, Pohlad said.

The Twins are on track for their lowest attendance total in 16 seasons at Target Field, and an ownership-mandated payroll reduction last year, among other factors, has contributed to a dissatisfied customer base. The Twins traded 10 players off their roster leading up to the July 31 deadline, furthering the frustration. Word that the Pohlads are staying put certainly won't help the morale of Minnesota baseball fans, who've been waiting for another World Series title since 1991.

Source: ESPN.com and Twins on Twitter