Baseball owner David Glass has agreed to sell the Kansas City Royals for $1 billion to Kansas City businessman John Sherman.
The deal is expected to be approved by Major League Baseball team owners when they meet in November and Sherman will be announced as the third owner of the franchise since it came into the league in 1969.
“The decision to sell the Royals was difficult for our family," said Glass in a statement. "Our goal, which I firmly believe we’ve achieved, was to have someone local, who truly loved the game of baseball and who would be a great steward for this franchise going forward. In John Sherman we have found everything we were looking for in taking ownership of this franchise.”
Glass, 83, is dealing with health issues that may have factored into his decision to sell the team, according to reports.
Sherman, the Cleveland Indians’ vice-chairman, will leave his post with that team and relinquish financial interest with them as well.
Although the Royals are suffering through a 47-88 season in 2019, they defeated the New York Mets to win the World Series in 2015.
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