The Kansas City Royals are about to have a new owner. Royals owner David Glass is negotiating the sale of the team for more than $1 billion, according to multiple reports, including ESPN.com.
The buyer is John Sherman, a Kansas City businessman who is a minority owner of the Cleveland Indians. The sale is expected to be finalized, but Sherman must get rid of his shares of the Indians before that happens.
John Sherman would have to sell his portion of the Indians to own the Royals. Not uncommon to see someone go from one ownership group to another:
John Henry (Florida to Boston)
Tom Werner (San Diego to Boston)
Bill DeWitt (Cincinnati to Baltimore to Texas to St. Louis)
— Royals Review (@royalsreview) August 28, 2019
The David Glass tenure
Glass is set to make a lot of money, considering he bought the team for $96 million in 2000. Even so, the 84-year-old former Wal-Mart CEO was known for keeping payroll down with the Royals.
But, whether because of his frugality or in spite of it, his tenure also will be known for the Royals’ American League pennant in 2014 and World Series title in 2015 after not making the playoffs for 29 years.
David Glass bought the Royals for $96 million. Nineteen years later he’s selling them for $1 billion. F**k the people who carry water for these guys when they talk about what they can “afford,” about “flexibility,” about their “market.”
— Joe Sheehan (@joe_sheehan) August 28, 2019
Moving forward
The Royals are a small-market team, but there seems to be no danger of Sherman moving the team, considering he’s a local and the team is on the verge of a new regional TV deal.
The team, of course, couldn’t yet comment on the sale.
The club said it was “not in a position to make any comments on the published speculation regarding any potential sale of the ball club.”
But it appears a new era is indeed on the horizon in KC.
ICYMI: @Ken_Rosenthal and @jaysonst on the Royals discussing a sale of the club: https://t.co/VZW3CU5EzV
and @rustindodd on potential buyer John Sherman, a KC businessman and vice chairman of the Cleveland Indians. https://t.co/FfngIHQT49
— The Athletic MLB (@TheAthleticMLB) August 28, 2019
