The sale of the Kansas City Royals was approved Thursday at the meeting of Major League Baseball owners in Arlington, Texas.
The buyer is a group led by local businessman John Sherman, which now becomes the third owner since the team was created in 1969. The price was undisclosed, but Forbes magazine estimated the team's value at $1 billion. The team was purchased from David Glass, who purchased the team in 2000 for $96 million from the estate of Ewing Kauffman.
Sherman started an oil and gas company…
The sale of the Kansas City Royals was approved Thursday at the meeting of Major League Baseball owners in Arlington, Texas.
The buyer is a group led by local businessman John Sherman, which now becomes the third owner since the team was created in 1969. The price was undisclosed, but Forbes magazine estimated the team's value at $1 billion. The team was purchased from David Glass, who purchased the team in 2000 for $96 million from the estate of Ewing Kauffman.
Sherman started an oil and gas company…