Source: Suns minority owner Justin Ishbia contemplating purchase of Twins

Justin Ishbia, minority owner of the Phoenix Suns and 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 owned the Twins for four decades, announced its intention to explore the possibility of selling the team, which would end one of the oldest properties in Major League Baseball. The Twins finished 82-80 last season and missed the playoffs for the third time in four seasons.

Justin, who Forbes estimates has a net worth of nearly $5 billion, is the founder and managing partner of Chicago-based private equity firm Shore Capital Partners.

Justin’s brother Mat, a billionaire mortgage lender and director of United Wholesale Mortgage, led an ownership group that included Justin to buy a majority stake in the Suns and Phoenix Mercury in February 2023 at a valuation of $4 billion. .

Justin, who owns a 22% stake in United Wholesale Mortgage, is listed as alternate governor for the Suns and Mercury.

Allen & Company is the investment bank facilitating the sale of the Twins, whose value is estimated between $1.5 billion and $2 billion. The Pohlad family purchased the Twins for $44 million in 1984.

Bloomberg was the first to report Ishbia’s interest in the Twins.