John Sherman

John J. Sherman

• School Ottawa University

Biographical Information

John Sherman is a businessman who made his fortune in the energy sector. Originally from Kansas City, MO, he was a season-ticket holder for the team for many years before making his first investment in a baseball team in 2016, when he became a minority owner of the Cleveland Indians and the team's Vice-Chairman.

He increased his stake in the team over the next couple of seasons, but his goal was to become a principal owner. The opportunity came in August 2019 when David Glass, the Royals' owner for the past two decades, indicated that he was interested in selling the team due to advancing age and declining health. Sherman jumped at the opportunity and on August 30th, it was announced that the two sides had come to an agreement on a price of $1 billion, with the sale to be submitted to Major League Baseball for approval in November. In the meantime, Sherman had to divest himself of his shares in the Indians. The sale was ratified by fellow owners on November 26th.

Further Reading

• Bob Nightengale: "Owner David Glass agrees to sell Kansas City Royals to local businessman for $1 billion", USA Today, August 30, 2019. [1]