The Minnesota Twins, who have been owned by the Pohlad family since 1984, are up for sale. The team is estimated to be worth between $1.5 to $2 billion.

Carl Pohlad purchased the Minnesota Twins for an estimated $44 million in 1984. Forty years later, his family announced on Thursday that it is exploring a sale of the franchise, which is likely to net more than $1 billion.

After 40 years of owning the Minnesota Twins, the Pohlad family said Thursday it plans to sell the team. The Twins have had great triumphs on the family's watch. With Kirby Puckett leading the way, Minnesota won World Series titles in 1987 and 1991.