Justin, Mat Ishbia reportedly interested in buying Twins
Dec 13, 2024, 2:29 PM
Phoenix Suns owners Justin Ishbia and brother Mat Ishbia are expressing interest in buying the Minnesota Twins, according to Bloomberg and The Athletic.
The Twins’ current owners, the Pohlad family, began searching for buyers in October.
Justin Ishbia, the Suns’ alternate governor, is named first in the Bloomberg report. Forbes lists him as worth an estimated $4.9 billion, while Mat Ishbia is worth $9.3 billion.
Forbes estimated the Twins’ value at $1.46 billion in its annual valuation exercise.
The Athletic reported a sale could take around six months, which would put an ownership change happening after the season begins.
Mat Ishbia is set up to buy another franchise. Could it be the Twins?
Mat Ishbia in February of this year revealed a real estate and investment company, Player 15 Group, that oversees his current holdings. That includes the NBA squad, the WNBA’s Phoenix Mercury and the G League’s Valley Suns, who are in their debut season.
It also owns Footprint Center, the Suns’ practice facility, the Mercury’s practice facility and the teams’ business campus in downtown Phoenix.
When Mat Ishbia announced the Player 15 Group, he told Sportico that he would not rule out pursuing new purchases of sports franchises. According to reports, he previously eyed the Denver Broncos and Washington Commanders before purchasing the Suns.
Creating the investment company made it easier to purchase a new franchise in the future, he said.
“Now I have a platform,” he told Sportico. “If we need to do that, we don’t have to figure out how to do it. It’s already set and teed up.”
Similar groups that own multiple teams exist in the pro sports world.
The Monumental Sports and Entertainment group owns and operates the teams, facilities and media company for the Washington Wizards, Capitals, Mystics and more.
The Harris Blitzer Sports and Entertainment company located in New Jersey oversees the Philadelphia 76ers, New Jersey Devils and each of those teams’ minor league teams.
