According to reports, Kansas City Royals owner David Glass is discussing a sale of the club to a Kansas City native.
Ken Rosenthal and John Sherman of The Athletic report that Glass is looking into a potential sale to a group headed by John Sherman, the vice chairman of the Cleveland Indians.
Glass purchased the Royals in April 2000 for $96 million and hasn’t publicly disclosed an intent to sell the franchise. It’s also unknown if the deal is close to being complete, at which time it would need to be approved by major league owners.
The team was valued at $1 billion in April by Forbes.
Sherman began as an investor with the Indians in 2016 and has since increased his stock in the team and is considered a partner by chairman and CEO Paul Dolan.
Glass became interim chairman and CEO in September 1993 after the death of founding owner Ewing Kauffman. He purchased the team more than six years last. Glass turns 84 in September, and his 60-year-old son Dan is team president.
After years of strife, the 2006 hiring of general manager Dayton Moore altered the state of the franchise. After ending a streak of nine losing seasons in 2013, Kansas City went to back-to-back World Series in 2014 and ’15, defeating the Mets in 2015 for their first championship in 30 years.
The Royals won just 58 games last season and have the third worst AL record, ranking 23rd in payroll at $98.8 million on Opening Day.
The team’s TV deal, currently being negotiated, ends after the 2019 season. The team also is under lease at Kauffman Stadium through 2030.