The Kansas City Royals soon may be under new ownership.
Owner David Glass reportedly is discussing the sale of the team with local businessman John Sherman, who currently is a minority owner and vice chairman of the Cleveland Indians, according to ESPN’s Jeff Passan. Sherman reportedly would divest should a deal be struck.
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The Royals could be sold for $1 billion or more, per Passan.
The potential sale of the Royals, which was first reported by The Athletic, would end David Glass’ nearly 20-year ownership of the franchise. He bought the team for $96 million in 2000 and would get more than 10 times that if the deal is finalized.
— Jeff Passan (@JeffPassan) August 27, 2019
Glass has owned the Royals since 2000 when he bought the team for $96 million, per Passan. He turns 84 on Sept. 2. His 60-year-old son, Dan, is in his 20th season as the team’s president.
