Cleveland Indians conclude minority investor process, bring on John Sherman
The Cleveland Indians have concluded the process to bring a minority investor and partner to the Dolan ownership.
John Sherman, a Kansas City, Missouri-based entrepreneur, joins the Indians as Vice Chairman and minority ownership partner.
"I am pleased to conclude the process and am thrilled to be partnering with John Sherman. 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," said Paul Dolan, Indians CEO and Chairman.
"It's an exciting time to be joining the Indians organization and ownership group. 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," said John Sherman, Indians Vice Chairman.
John Sherman is an entrepreneur who has started and developed two successful businesses based in Kansas City, Missouri. His first startup, LPG Services Group, grew rapidly and merged with Dynegy (NYSE:DYN) in 1996. Mr. 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).
Mr. 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's Bloch School of Business Entrepreneurs Hall of Fame with a group that included Ewing Kauffman, the original owner of the Kansas City Royals - who brought major league baseball back to Kansas City - and Lamar Hunt, a founder of the American Football League (AFL) and owner of the Kansas City Chiefs.