Businessman David Glass has owned the Kansas City Royals since 2000. Sure the team has had some limited success during his two decades in that role, but payroll has remained an issue for the small-market club.
According to Jayson Stark and Ken Rosenthal of The Athletic, Glass is in talks to sell the team to a group headed by Kansas City native John Sherman, who is currently vice-chairman of the Cleveland Indians.
Glass, 83, took over for then-owner Ewing Kauffman as CEO back in 1993. He ultimately purchased the team for a mere $96 million seven years later.
According to Forbes’ annual estimate, the Royals are now worth a cool $1 billion. Sherman himself is estimated to have a net worth in the billions after finding multiple successful companies.