News has broke of the talks between David Glass about a deal to sell the Kansas City Royals organization. Royals owner David Glass has reportedly entered negotiations with Cleveland Indians minority owner, John Sherman. The deal was reported to be over $1 billion between Glass and Sherman. Jeff Passan was able to detail the news as it started to slip out.
Kansas City Royals owner David Glass is negotiating a sale of the team to local businessman John Sherman for more than $1 billion, sources tell ESPN. Sherman is currently a minority owner of the Cleveland Indians and would divest himself if Royals deal is finalized as expected.
— Jeff Passan (@JeffPassan) August 27, 2019
A little bit of background on Glass, is that he has become wealthy as a part of Wal-Mart. Glass was an executive with Wal-Mart and made his fortune through his time there, purchasing the Royals franchise in 2000. At the time, the Royals cost him $96 million when he took over as the owner, but he could very well see an incredible return on investment in 2019 as he stands to make over a $1 billion when all is said and done.
The Miami Marlins were sold in a deal between Derek Jeter and Jeffrey Loria that was a deal structured at $1.2 billion in total. The Marlins were ranked as the worst franchise and could stand to set the bar pretty high in the Royals deal between Sherman and Glass. Glass is looking to see a return on investment that is ten times his original purchase price.
Back in 2015, the Royals did take home a World Series victory defeating the New York Mets, but Glass has not seen many winning seasons since taking over as owner. The Royals have consistently been a smaller-market, low-payroll team that was only ramped up after 2015 when the Royals were a genuine threat in the American League East.