Report: Kansas City Royals owner agrees to sell team for $1 billion

KANSAS CITY, Mo. (KWCH) Friday, August 30, 2019

Kansas City Royals owner David Glass and manager Ned Yost celebrate after Game 5 of the Major League Baseball World Series against the New York Mets Monday, Nov. 2, 2015, in New York. The Royals won 7-2 to win the series. (Al Bello/Pool via AP)

USA Today reports Royals owner David Glass has agreed to sell the club for $1 billion.

As reportedly earlier this week, Glass will sell the Royals to Kansas City businessman and minority owner of the Cleveland Indians, John Sherman.

The deal will become official in November if it's ratified by the Major League Baseball owners.

Statement from David Glass

“The decision to sell the Royals was difficult for our family. Our goal, which I firmly believe we’ve achieved, was to have someone local, who truly loved the game of baseball and who would be a great steward for this franchise going forward. In John Sherman we have found everything we were looking for in taking ownership of this franchise. "...“John Sherman and his group far exceeded our hope for the next caretaker of Royals baseball. His love for Kansas City and the game of baseball is well documented as are his philanthropic endeavors in the surrounding communities. A native of this area, John has made a huge impact in our business community and is so passionate about baseball that he purchased an ownership stake in the Cleveland Indians three years ago to begin his relationship with this great game. We are truly blessed to have someone of John’s stature and business acumen available to us from the metropolitan area to take the reins of this organization going forward.”

“As for my family, it has been an amazing run since we gained control of the franchise in 2000. I will miss this more than anyone realizes because I grew up loving this great game and was awarded a fantastic opportunity to own one of the 30 Major League clubs. We watched this club painfully come up 90-feet short in 2014 and then ultimately win that coveted World Series trophy in 2015. I will never forget the thrill of seeing over 800,000 people of this community come together on one sunny November day to salute the newly-crowned World Champions. It’s been a fantastic ride and I want to thank our great fans for supporting us through the years but now it’s time for someone else to oversee this franchise into its next championship and in John Sherman, we’ve found the perfect individual.”

Statement from new the Royals' next owner, John Sherman

“I am enormously grateful to David and the Glass Family for this extraordinary opportunity,” said John Sherman, “and am humbled by the chance to team up with a distinguished group of local investors to carry forward and build on this rich Kansas City Royals legacy. Our goal will be threefold: to compete for a championship on behalf of our fans; to honor their passion, their experience and their unwavering commitment; and to carry their hopes and dreams forward in this great Kansas City region we all love - - - for decades to come.”

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Tuesday, August 27, 2019

The owner of the Kansas City Royals could sell the team to a group headed by the vice-chairmen of the Cleveland Indians, reports The Athletic.

The sports website says it's unknown if the two sides are close to making a deal. For now, neither Royals owner David Glass nor the organization have confirmed nor denied the reports.

Statement from the Royals:
"The Kansas City Royals are not in a position to make any comments on the published speculation regarding any potential sale of the ball club. The Royals will make no further statements at this time."

Glass purchased the Royals for $96 million in April of 2000. Kansas City built up a strong farm system that eventually paid off with a pair of American League pennants in 2014 and 2015 and the franchise's second World Series championship in 2015.

Kansas City is currently in a rebuilding mode in which several young players are competing for spots with the club toward the bottom of the American League standings.

Any club purchases would have to be approved major-league owners.