Entrepreneur buys stake in Cleveland Indians

Kansas City entrepreneur John Sherman has become a minority owner and vice chairman of the Cleveland Indians of Major League Baseball.

Sherman joins the Dolan family, who will retain the majority ownership they have had since 2000. Financial details of the deal were not announced.

“I am pleased to … be partnering with John Sherman,” said Paul Dolan, Indians CEO and Chairman. “John has an impressive business track record and shares the community-oriented values that we believe in. I am eager to have John join our ownership group.
 
“It’s an exciting time to be joining the Indians organization and ownership group,” Sherman said. “It’s a strong, storied franchise with a great deal of promise this year and beyond. I look forward to working closely with Paul and helping him further the organization and team in any way that I can.”
 
Sherman is an entrepreneur who has started and developed two successful businesses based in Kansas City, Mo. His first startup, LPG Services Group, grew rapidly and merged with Dynegy (NYSE:DYN) in 1996. Sherman later founded Inergy L.P., which became a public company in 2001. He led Inergy through a period of tremendous growth, merging it with Crestwood Holdings in 2013. Mr. Sherman continues to serve on the board of the merged company – Crestwood Equity Partners (NYSE:CEQP).
 
Sherman has served and supported the Kansas City community extensively in both a civic capacity and through his philanthropic efforts. He has been recognized with numerous honors for his entrepreneurial successes including as an Ernst & Young Entrepreneur of the Year. In addition, in 2014, he was inducted into the inaugural class of the University of Missouri-Kansas City’s Bloch School of Business Entrepreneurs Hall of Fame with a group that included Ewing Kauffman, the original owner of the Kansas City Royals, and Lamar Hunt, a founder of the American Football League and owner of the Kansas City Chiefs.