Royals Owner David Glass Reportedly Likely to Sell Team to Indians Minority Investor
The Kansas City Royals are back in a cycle of rebuilding, with no real end in sight. As a result, there is a good chance the Royals are about to undergo some swift and serious changes.
Former Walmart CEO and current owner David Glass is reportedly exploring the idea of selling the team, according to Ken Rosenthal and The Athletic.
#Royals owner David Glass in discussions to sell the club, sources tell me and @jaysonst. Story: https://t.co/GnTLMpJGgQ $
— Ken Rosenthal (@Ken_Rosenthal) August 27, 2019
Glass is in negotiations with a group headed by a minority investor with the Cleveland Indians and Kansas City native John Sherman. If the sale were to happen, the transaction would need approval from the MLB owners.
Turns out, it's more than just a possibility; the two sides are working towards finalization.
Kansas City Royals owner David Glass is negotiating a sale of the team to local businessman John Sherman for more than $1 billion, sources tell ESPN. Sherman is currently a minority owner of the Cleveland Indians and would divest himself if Royals deal is finalized as expected.
— Jeff Passan (@JeffPassan) August 27, 2019
Glass originally purchased the team in April 2000 for $96 million. Forbes estimates the team's worth at $1 billion in 2019.
The Royals saw success in the 2014 and 2015 seasons, when the team advanced to back-to-back World Series. After losing in seven games to the San Francisco Giants in 2014, Kansas City got its revenge in 2015 over the New York Mets.
Since then, the team has restarted the rebuild, cutting its payroll last year after two mediocre seasons in 2016 and 2017. The Royals are now one of the worst teams in the majors, but with a farm system-building pedigree not too deep in their rearview.
If the team is sold, the new ownership group will have its work cut out for them to replicate that magic.