David Glass' tenure as owner of the Kansas City Royals could be coming to an end in the near future.
Rosenthal and Stark noted it's unclear if Glass and the Sherman-led group are close to an agreement at this point.
Per ESPN's Jeff Passan, the two sides are negotiating a deal worth more than $1 billion.
Glass has been the sole owner of the Royals since 2000 when he purchased them for $96 million from the estate of Ewing Kauffman, who founded the franchise in 1969.
Per Mike Ozanian and Kurt Badenhausen of Forbes, the Royals are estimated to be worth $1.025 billion. Only the Tampa Bay Rays ($1.01 billion) and Miami Marlins ($1 billion) have a lower value out of 30 MLB teams.
Sherman, who is from Kansas City, joined the Indians as a minority investor and vice chairman in Aug. 2016.
Under Glass' ownership, the Royals have had winning records four times in 20 seasons. They reached the World Series in consecutive years in 2014-15 and captured the franchise's second title in 2015 by defeating the Mets in five games.