John Sherman was officially approved to purchase the Kansas City Royals from David Glass on Thursday, according to Sam Mellinger of the Kansas City Star. 

Bob Nightengale of USA Today reported in August that Glass had agreed to sell the team to Sherman for $1 billion. Sherman is a Kansas City businessman who had been a minority owner of the Cleveland Indians since 2016.

Glass originally purchased the Royals in 2000 for just $96 million, per Nightengale.

When Glass accepted Sherman's offer, he released the following statement regarding his decision to sell the team:

"The decision to sell the Royals was difficult for our family. Our goal, which I firmly believe we've achieved, was to have someone local, who truly loved the game of baseball and who would be a great steward for this franchise going forward. In John Sherman we have found everything we were looking for in taking ownership of this franchise."

According to Nightengale, health issues played a role in the 83-year-old Glass' decision.

The Royals largely struggled during Glass' nearly two decades as the owner with just two playoff appearances, but they made them count.

Kansas City reached the World Series in 2014, but it fell to the San Francisco Giants in seven games. The Royals returned to the World Series the following year, however, and beat the New York Mets in five games, signaling the franchise's first championship since 1985.

However, Sherman is taking over a Royals team that has missed the playoffs in four consecutive seasons and went just 59-103 last season, marking its second straight 100-loss campaign.

Even so, there are some bright spots in place, as Jorge Soler, Whit Merrifield, Adalberto Mondesi and Hunter Dozier all had big seasons offensively in 2019. Kansas City's biggest issue is pitching, as it ranked 27th in Major League Baseball last season with a 5.20 team ERA.

If the Royals are going to be more competitive and vie for an American League Central title in 2020, they will be tasked with chasing down the Minnesota Twins and an Indians team that Sherman formerly had an ownership stake in.