Kansas City Royals' owner sells team for $1 billion

Kansas City Royals' owner sells team for $1 billion

Now-former owner David Glass and family sold the Royals to a group of Kansas City investors, led by John Sherman for $1 billion.

"The decision to sell the Royals was hard for our family", Glass said. "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".

Glass and the Royals showed the inside track in a remark launched on Friday afternoon. Our objective will likely be threefold: "to compete for a championship on behalf of our fanatics; to honor their interest, their revel in and their unwavering dedication; and to raise their hopes and desires ahead on this nice Kansas City area all of us love - for a long time to come".

Sherman also owns a minority share of the Indians but it was previously reported that he would divest himself of his share in Cleveland to buy the Royals.

The Royals confirmed the speculation Friday after reports surfaced that owner David Glass was looking to sell.

Sherman has lived in Kansas City for over four decades and is a long-time season-ticket holder for the Royals.

"As for my family, it has been an incredible run since we gained control of the franchise in 2000", Glass said.


Glass purchased the team for just $96 million, meanings he stands to make a 1,000% return on his investment. The Royals went through more lows than highs during his tenure, but did capture a World Series championship 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.

"John Sherman is a hell of a guy and would be a tremendous owner", James tweeted.

John Sherman is an entrepreneur, civic leader and philanthropist whose footprint in the Kansas City region has spanned the broadest reach. Sherman is a trustee for the Ewing Marion Kauffman Foundation and the University of Missouri-Kansas City. He has given time and money to the Truman Presidential Library in nearby Independence, the Negro Leagues Museum in Kansas City, and several local schools.

Sherman will be the third owner of the team, dating back to 1969 when Ewing Kauffman brought an Major League Baseball club back to Kansas City after the A's moved to Oakland.

"To perform like that in front of family and friends I'm sure feels great", manager Brandon Hyde said.

The loss of Sherman is likely to impact the Indians financial situation.

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