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Baxter Holmes, ESPN Senior WriterDec 13, 2024, 06:05 PM ET
- Baxter Holmes (@Baxter) is a senior writer for ESPN Digital and Print, focusing on the NBA. He has covered the Lakers, the Celtics and previously worked for The Boston Globe and Los Angeles Times.
Justin Ishbia, a Phoenix Suns minority owner and the brother of Suns majority owner Mat Ishbia, is interested in buying the Minnesota Twins, a source with knowledge of the matter told ESPN on Friday.
In October, the Pohlad family, which has owned the Twins for four decades, announced its intention to explore selling the team, which would end one of the longest-tenured ownerships in Major League Baseball. The Twins finished 82-80 last season, missing the playoffs for the third time in four seasons.
Justin, whom Forbes estimates has a net worth of nearly $5 billion, is the founder and managing partner of the Chicago-based private equity firm Shore Capital Partners.
Justin’s brother, Mat, a billionaire mortgage lender and head of United Wholesale Mortgage, led an ownership group that included Justin to buy a controlling stake in the Suns and the Phoenix Mercury in February 2023 at a $4 billion valuation.
Justin, who owns a 22% stake in United Wholesale Mortgage, is listed as the alternate governor for the Suns and Mercury.
Allen & Company is the investment bank facilitating the sale of the Twins, which are estimated to be worth between $1.5 billion and $2 billion. The Pohlad family bought the Twins for $44 million in 1984.
Bloomberg was first to report Ishbia’s interest in the Twins.
