John Sherman Buys Kansas City Royals For $1 Billion
Even a baseball team can appreciate in value three times faster than the stock market.
The Kansas City Royals are being bought by Kansas City businessman John Sherman for $1 billion from David Glass. Glass purchased the Royals for $96 million in 2000.
The Royals generated $233 million in revenue in 2018. During the 19 seasons Glass owned the Royals, the team had three winning seasons, including 2015, when they won the World Series.
Baseball teams, as in virtually every sport, have appreciated in value mainly because of the rapid rise in the value of their media rights. Last season, the Royals earned $25 million from their cable deal with Fox Sports Kansas City.