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.
Stay connected to the stories and events that make your community a special place to call home.
Subscriptions start at $14.90/month.View subscription options
- Unmatched coverage of Allen County’s local news and sports, a tradition dating back to 1867
- Compelling portraits of our residents, experienced reporting and thoughtful analysis
- Unlimited online access to iolaregister.com and our archives