Kansas City Royals owner David Glass is negotiating a deal to sell the team for more than $1 billion, ESPN's Jeff Passan reported on Tuesday. The possibility of the sale was first reported by The Athletic.
According to Passan, Glass is looking to finalize the sale with John Sherman, a local businessman who also owns a minority share of the Cleveland Indians. Sherman would reportedly divest himself of his share in Cleveland to buy the Royals.
Glass, 84, bought the team for $96 million in 2000. His son Dan currently serves as the team's president.