MLB owners have approved the sale of the Kansas City Royals baseball club to area businessman John Sherman, as reported by ESPN’s Jeff Passan (Twitter link).
In August, word came that longtime Royals owner David Glass was discussing a potential sale with the KC-based Sherman, with the final price expected to exceed $1BB. Today’s procedural approval by owners and the league itself marks an official transition of ownership.
Sherman’s acquisition was never expected to be in serious doubt, in part due to the 64-year-old’s existing ties to the game. Sherman has been a minority stakeholder in the division-rival Indians since 2016, holding the official title of vice chairman since that time. Sherman, who made his fortune in the natural gas and energy industries, is expected to divest himself of his ties to the Indians now that this sale is approved.
Glass’ tenure as KC owner saw his club reach the broadest possible spectrum of highs and lows. Glass purchased the Royals for a reported…