MINNEAPOLIS -- Clark Griffith has lost another bid
to buy the Minnesota Twins, the only one the team fielded. WCCO-Radio reports
that the team rejected Griffith's $110 million offer because, as team president
Jerry Bell put it, it didn't include enough cash.
Twins owner Carl Pohlad reportedly is seeking $140 million for the team
that last year finished 20 games behind the leader in a weak AL Central
division. That's more than three times the amount ($38 million) Pohlad
paid for the team when he bought it from Griffith's father, Calvin Griffith,
in 1984, according to WCCO-Radio.
Griffith made an offer about two months ago to buy the team from Pohlad.
A Griffith offer of $86 million in cash for the club a year ago this month
fell on deaf ears as well. That was about the time Pohlad promised to make
good on a signed a letter of intent to sell the team to North Carolina
businessman Don Beaver for $140 million right after the Minnesota House
overwhelmingly defeated a stadium financing proposal.
"The [latest] offer wasn't substantial enough from a cash standpoint
for us to consider it," Bell told The Associated Press. "If Griffith
wants to come back with a different offer, we will consider it."
A group led by Griffith, a former Twins vice president and a former
chairman of Major League Baseball Properties, was the only potential buyer
to submit a bid before a Sept. 14 deadline, according to the wire service.