John Sherman (businessman)
John J. Sherman | |
|---|---|
| Born | April 12, 1955 Japan |
| Occupation(s) | Entrepreneur, sports executive |
| Known for | Principal owner of the Kansas City Royals |
John J. Sherman (born April 12, 1955) is a prominent American entrepreneur and the principal owner of the Kansas City Royals franchise in Major League Baseball (MLB). He established and formerly served as chairman and chief executive officer of Inergy, L.P.
Early life
Sherman was born in Japan in 1955 during his father's tenure in the United States Air Force. He is the eldest among seven siblings. He completed his education at Ottawa University, where he also played as quarterback for the Ottawa Braves football squad.
Career
Sherman initiated his professional journey in telecommunications before shifting focus to the energy sector. He founded LPG Services Group, which later merged with Dynegy. In 1996, he launched Inergy, which combined with Crestwood Holdings in 2013, reaching an enterprise valuation of $8 billion. Sherman exited his controlling interest in 2014.
In 2016, Sherman purchased a minority share in the Cleveland Indians and assumed the role of vice chairman.
Kansas City Royals ownership
On August 30, 2019, Kansas City Royals owner David Glass declared his plan to sell the team to Sherman for a sum exceeding $1 billion. The transaction received MLB approval on November 21. Throughout the COVID-19 pandemic, Sherman ensured all staff remained employed without layoffs or furloughs. In September 2021, he elevated then-general manager Dayton Moore to president of baseball operations and appointed J. J. Picollo as general manager; however, Moore was dismissed in September 2022.
Following acquisition, Sherman has actively explored relocating or replacing the team's stadium. By 2023, considerations included either constructing a new facility at Jackson County or Clay County to supplant Kauffman Stadium. Sherman's proposal in September 2023 projected a $2 billion cost for new stadium developments, anticipating that taxpayers would finance half of the expense. Contrarily, a financial assessment by Jackson County estimated taxpayer obligations ranging from $4.4 billion to $6.4 billion, significantly surpassing Sherman's figures.
Personal life
Sherman and his wife, Marny, have been married for over four decades; their initial date took place at a Royals game. The couple has four children.