Royals’ Owner On the Verge of Selling Team for More than $1 Billion

Kansas City Royals manager Ned Yostץ Photo by Albert Pena/CSM/Shutterstock (10264964bt)

The Kansas City Royals have been owned by local business mogul David Glass for the better part of two decades, but it looks as if the team could switch hands soon.

It appears that Glass, an 84-year-old Missouri native that purchased the team in 2000 for $96 million, is nearing a deal to sell the Royals to a new owner. That new owner is John Sherman, a local businessman and energy entrepreneur who is currently a part-owner of the Cleveland Indians.

Glass is expected to finalize the sale at some point this season, which will multiply by more than ten what he spent on the team nearly 20 years ago.

The team has had both tough times as well as successes under Glass’s ownership, with the franchise not making the playoffs from the year he bought the team until the 2014 season. The Royals then went on to qualify for the World Series in the same year until winning the championship in the 2015 season despite being a small market team with a low budget.

Glass was, however, sometimes criticized due to a perceived unwillingness to spend big money in order to bring the team more valuable players.

Sherman will inherit a team that has failed to make the playoffs for the past 3 seasons and looks to be in a tough spot heading into the new decade.