Kansas City Royals reportedly sold for $1 billion

MGN
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KANSAS CITY, Mo. (AP) -- The Kansas City Royals have been sold for $1 billion, USA Today is reporting.

Owner David Glass has reportedly agreed to a deal with a minority owner of the Cleveland Indians, according to USA Today MLB columnist Bob Nightengale.

Earlier this week, two people familiar with the situation told The Associated Press that the ownership of the Kansas City Royals was open to the possibility of selling the franchise if the right buyer is found.

The people spoke on condition of anonymity because they were not authorized to discuss the sale.

The Athletic reported Tuesday that team owner David Glass was in discussions with a group led by Kansas City native and Cleveland Indians vice chairman John Sherman. But the depth of those discussions is unclear, and one person told the AP that the club has been open to offers for some time.

The Royals at that time declined in a statement to address any speculation about a potential sale.

Glass, the former president and CEO of Wal-Mart, was appointed interim chairman of the club in 1993 after the death of its founder, Ewing Kauffman. The Glass family bought the team for $96 million in April 2000 with the understanding that the Royals would remain in Kansas City.

Earlier this year, Forbes calculated the franchise value at $1 billion.

Read the original version of this article at www.wowt.com.