The Kansas City Royals are up for sale. The Athletic.com is reporting that David Glass has been in discussions to sale the team to a group headed by Kansas City native John Sherman, the vice-chairman of the Cleveland Indians.
Glass purchased the Royals for $96 million in April 2000, and had not publicly disclosed any intention to sell the club.
Forbes estimated in April that the Royals were worth $1 billion. Glass, who turns 84 on September 2, became interim chairman and CEO of the Royals in September 1993 following the death of the founding owner, Ewing Kauffman. He purchased the team from the Kauffman estate 6 1/2 years later. His son, Dan is the team president.
The purchase of any club is subject to approval of the major-league owners.
