A few days ago it was reported by Ken Rosenthal, Jayson Stark and Jeff Passan, that Royals owner David Glass was in discussions to sell the Kansas City Royals franchise to local businessman John Sherman. The original report was that the purchase price was to exceed $1 billion dollars, and the purchase to be finalized by the end of the year.
Now just a few short days later the sale of the club has been made official, John Sherman and a local group of investors have purchased the club from the Glass family for approximately $1 billion dollars. The sale of the club would still need to be approved by the other owners, therefore it won’t be finalized until the owners’ meeting in November. John Sherman, a minority owner of the Cleveland Indians, appears to be well liked by other people in the industry, so an approval of the sale shouldn’t be an issue.
John Sherman, 64, a local Kansas City businessman and long-time season ticket holder of the Royals, became a minority owner of the Cleveland Indians and a vice chairman in 2016. Sherman would have to sell his portion of ownership in the Indians franchise to purchase the Royals. Sherman has founded two energy companies, first one is LPG Services Group, later it merged with Dynegy. The second company he founded was Inergy, a propane provider based in Kansas City, Missouri.
For those of you that might be worried that the club would be relocated, don’t be worried. I don’t see any reason why Sherman would want to move the club. It’s going to be really interesting to see what type of changes Sherman might make to the front office personnel, if any, over the next few years. Sherman’s purchase of the Royals looks to be a good thing for the future of this franchise. I believe that exciting times are ahead!
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