KANSAS CITY, MO (KCTV) -- The Kansas City Royals have changed hands from David Glass to an ownership group led by John Sherman and that includes actor Eric Stonestreet and local businessmen.

John Sherman

The Kansas City Royals have changed hands from David Glass to an ownership group led by John Sherman and that includes actor Eric Stonestreet and local businessmen.

The purchase of the Royals for approximately $1 billion was approved unanimously by the owners of the other big league clubs at their meeting last Thursday. The financial closing occurred Monday, and Sherman was introduced at Kauffman Stadium on Tuesday afternoon.

“On behalf of our distinguished group of Kansas City-centric investors, I am humbled by the opportunity to carry forward and build on the important legacy of the Kansas City Royals,” said Sherman. “This is an ownership group that brings an impressive collection of skills and strengths across multiple sectors. They bring both business and sports acumen, entrepreneurial curiosity, a willingness to embrace risk, and a deep commitment to civic and community engagement in Kansas City. What is perhaps most valuable is that each of them also brings the passion and the heart of a fan. Collectively, they will bring great value to the journey.”

His group is just the third owner of the Royals since their inception in 1969, when Ewing Kauffman established the team. The Glass family served as caretakers of the franchise following Kauffman's death before purchasing it outright and retaining control until this year.

“As I’ve said before,” Sherman continued, “our goal will be threefold: to compete for a championship on behalf of our fans; to honor their passion, their experience and their unwavering commitment; and to carry their hopes and dreams forward through sustained success in this great Kansas City region for decades to come.”

Sherman and the co-investors are the third owner of the Royals since their inception in 1969 when Ewing Kauffman brought Major League Baseball back to Kansas City after a one-year absence.

KANSAS CITY ROYALS OWNERSHIP GROUP

  • John Sherman, Chairman and CEO, Kansas City Royals
  • Brooks Sherman -- Knothole Sports, LLC
  • Paul Edgerley -- Co-Founder/Managing Director, VantEdge Partners
  • Bill Gautreaux -- Managing Partner, MLP Holdings
  • Carl Hughes -- Hughes Sports, LLC
  • Terry Matlack -- Co-Founder/Managing Director, VantEdge Partners
  • PJM Baseball, LLC
  • The Dunn Family and JE Dunn
  • The Lockton Family
  • Michael Haverty The Michael and Marlys Haverty Family
  • Seventh Inning Stretch, LP
  • Peter and Veronica Mallouk -- President, Creative Planning
  • Rob Kaplan -- Business Leader/Venture Philanthropist
  • PlayBallKC LLC
  • Alan Atterbury, J.B. Hebenstreit and Don Wagner -- Blue Note, LLC
  • Mariner Kemper -- UMB Financial Corporation, along w/the Kemper Family
  • Kent McCarthy -- President and Founder, Jayhawk Capital Management
  • Eric Stonestreet -- Actor/Entertainer
  • Jay A. Pack -- President, Pack Family Partnership
  • Dan Dees -- Co-Head of Investment Banking, Goldman Sachs
  • Mark Demetree -- Chairman, MCD Investments LLC

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