Kansas City Royals reportedly being sold to KC businessman

Kansas City Royals reportedly being sold to KC businessman

Kansas City Royals reportedly being sold to KC businessman

The Kansas City Royals may soon have a new owner.

USA Today reports that owner David Glass, who purchased the team in 2000 for $96 million, will sell the team to Kansas City businessman John Sherman.  The deal is reportedly worth $1 billion.

Sherman has served on the boards of numerous companies and non-profit organizations in the Kansas City-area, including the Kaufman Foundation, a non-profit organization founded by late Royals owner Ewing Kauffman.  Sherman currently is a minority owner of the Cleveland Indians, and is reportedly active in management of the team.

He also serves on the audit committee of Major League Baseball.

If approved by Major League Baseball owners, the deal could be completed in November.

(Photo Courtesy Ewing Marion Kauffman Foundation)

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