Tom Pohlad admits Twins' payroll cuts after 2023 season were a mistake

Tom Pohlad was refreshingly open in his comments to the media on Wednesday, the day he was announced as the new controlling owner of the Minnesota Twins. He didn't hide from the reality that things haven't gone well over the past couple years, and acknowledged that he and his family's ownership group need to work to win back the trust of the fan base.

"When we think back over the last number of years, we haven't won enough baseball games," Pohlad said. "We've put the financial foundation of the team in jeopardy, and we've lost the trust of Twins fans. When we think about how we best move forward, we gotta do what's in the best interest of this organization and the fans."

It was that reflection process, he said, that led to the decision that he would be taking over for his brother, Joe Pohlad, as operator of the franchise and as its liaison with Major League Baseball.

Ask Twins fans what led to their current distrust of the team's ownership, and many will point to the decision to slash payroll after a successful 2023 season. That was the year the Twins not only snapped an 18-game postseason losing streak, but won a series in the playoffs for the first time in 21 years. They swept the Toronto Blue Jays 2-0 in the AL Wild Card Round at Target Field, then fell in four games to the Houston Astros in the ALDS.

Minnesota Twins — Jesse Johnson-Imagn Images

In 2023, the Twins' payroll was in the $155-160 million range. But despite the success of that season and momentum it created, the Pohlads made the decision to slash payroll by around $30 million heading into the 2024 season. That was when Joe Pohlad gave a now-infamous quote about needing to "right-size" the business.

Talking to WCCO's Chad Hartman on Wednesday, Tom Pohlad admitted that the payroll cuts were a mistake.

"We made what we thought at the time was a responsible financial decision, and we obviously failed to consider the long-term impact of that decision, and the short-term impact of that decision, frankly," he said. "We sucked the air right out of our fan base, and it did significant damage to our brand and to our family from a confidence standpoint. Plain and simple, we got it wrong."

The Twins collapsed down the stretch in 2024 and missed the playoffs. They fell out of contention even quicker in 2025, missing the postseason again in a year where they stunningly dealt away 10 players prior to the trade deadline.

Pohlad declined to put a number on the Twins' payroll for 2026, which is expected to be even lower than it has been in recent years. It currently sits at around $100 million after the signing of veteran slugger Josh Bell, though that number will rise to some degree after further roster additions.

However, Pohlad said they're "willing to make moves that improve this team," and that the reason they've brought on three minority investors is to help the organization pursue a championship.

“We’re in the business of winning baseball games," Pohlad said. "We’re not in the business of making money to put money in our pockets. Every dollar that we make should be put back on the field, in stewardship of this team and in an effort to win a world championship."

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