Earlier this year, John Sherman was required to divest from his minority stake in the Cleveland Indians in order to complete his purchase of the Kansas City Royals.
But as it turns out, Sherman was not only close to staying in Cleveland, but nearly did so in what would have been a significant capacity.
According to Sam Mellinger of The Kansas City Star, Sherman had initially agreed to a path to take over a controlling interest of the Indians from current owner Paul Dolan. Mellinger's reporting was confirmed by MLB commissioner Rob Manfred after Sherman was unanimously approved as the Royals' new owner on Thursday.
That Dolan had apparently made an agreement to surrender his controlling interest in the Indians is a significant development and could open questions as to whether or not he'd be interested in other offers for the franchise. An entrepreneur with roots in the Kansas City region, Sherman became a minority investor and Vice Chairman of the Indians in 2016.
The Indians have been owned by the Dolan family since 2000, when Larry Dolan purchased the franchise from Dick Jacobs. In 2013, Paul Dolan was approved as the controlling owner of the team after previously serving as its team president, chairman and CEO.