The Royals officially have a new owner, with John Sherman’s purchase of the club approved by fellow MLB owners today at their meeting in Arlington, Texas. Sherman agreed to purchase the club for $1 billion from David Glass earlier this summer. MLB.com reporter Jeffrey Flanagan expects Sherman to speak publicly next week.
The approval was seen merely as a formality, since Sherman was carefully hand-picked by Glass to succeed him. Sherman has been a minority owner of the Cleveland Indians since 2016, owning 30 percent of the club. Sherman will have to sell that stake in the club if he hasn’t already.
Sherman is a Kansas City native who started two energy companies, including LPG Services, which eventually merged with Dynegy, an electric company. He has been active in civic and philanthropic causes around the city, serving as a trustee for the Ewing Marion Kauffman Foundation, the National World War I Museum, and the University of Missouri-Kansas City.
Sherman has been a Royals season ticket-holder and is said to be passionate about baseball and views sports teams as a “community asset.” Associates have described his style as “thoughtful, open-minded, inclusive and…