KC Royals announce sale

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Sports

August 30, 2019 - 5:30 PM

KC Royals owner David Glass, right, and his son, Dan Glass, president of the team.

KANSAS CITY, Mo. (AP) — David Glass and his family on Friday announced the sale of the Kansas City Royals to an ownership group led by local entrepreneur John Sherman in a deal expected to be worth about $1 billion.

The Royals announced the sale just days after word began to leak that the Sherman group was closing in on an agreement. Sherman and his co-investors will become the third owners since another local businessman, Ewing Kauffman, founded the club in 1969.

The 83-year-old Glass and his family helped serve as caretakers of the club following Kauffman’s death in 1993, and they took ownership of the club for $96 million in April 2000.

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