Royals owner David Glass has agreed to sell the club to an ownership group headed by Kansas City businessman John Sherman for $1 billion, according to USA Today reporter Bob Nightengale. Reports that Glass was in talks with Sherman on the sale of the club was reported earlier this week by Jayson Stark and Ken Rosenthal of The Athletic. According to Nightengale, the deal will become official in November when the sale will need to ratified by other MLB owners.
Sherman has been part of the Cleveland Indians ownership group since 2016, and will need to sell his share to buy the Royals.