CLEVELAND: Indians owner Paul Dolan is actively looking to sell a minority stake in the franchise, according to a report by the New York Post.
According to the report, Dolan hired boutique investment bank Allen and Co. several months ago, shopping roughly 30 percent of the team in an effort to increase spending on salaries.
The Dolan ownership has been under almost constant fire from fans for not spending enough money on payroll. It started this season with a payroll of roughly $83 million, which ranked 26th in baseball.
A Forbes report in the spring showed that when looking at what the Indians bring in and compared to teams of similar revenues, they were spending at roughly the same rate as those clubs.