Kansas City Royals owner David Glass is expected to sell the team for more than $1 billion, according to reports.

Glass, who made his fortune as an executive with WalMart, has owned the club since 2000. He purchased the Royals for $96 million at the time.

He is discussing the possibility of selling the team to a group headed up by John Sherman, who is originally from Kansas City and is currently vice chairman of the Cleveland Indians.