The Kansas City Royals appear likely to change ownership hands in the future.
A report from The Athletic’s Ken Rosenthal and Jayson Stark on Tuesday said that David Glass was in talks to sell the Royals to John Sherman. On Wednesday, MLB Network insider Jon Heyman reported that that the sale is expected to go through and that Sherman would receive owner approval from MLB.
Barring something unforeseen John Sherman’s purchase of the Royals from David Glass will happen. Sherman, well-respected KC businessman who’d been buying up points in the Indians, seen as a sure thing for MLB approval, too.
— Jon Heyman (@JonHeyman) August 29, 2019
Sherman is a Kansas City businessman and current part-owner of the Cleveland Indians.
Heyman adds that the sale price of the Royals is expected to be around $1 billion.
Royals purchase price will be about $1B, perhaps a bit more. Marlins got $1.2B — maybe because Miami is bigger market with more potential and new stadium. But some wonder if Glass preferred to sell to a local guy, suggesting it’s an “inside buy” for “civic” reasons.
— Jon Heyman (@JonHeyman) August 29, 2019
Glass, who turns 84 next week, purchased the Royals from Ewing Kauffman’s estate in 2000 for $96 million. Since he took over as owner, the team has only had four winning seasons since 2000, though they did reach two World Series and win one.
