CLEVELAND (WJW)– Cleveland Indians owner Paul Dolan sent a letter to fans on Friday following the team’s announcement it will be changing names to the Cleveland Guardians.
The president and managing partner of Thrasher, Dinsmore & Dolan built most of his wealth upon ownership of stock in Cablevision, founded by his brother Charles, who in 1999 was No. 312 on Forbes Magazine’s richest person list. Dolan brought Cablevision to the Cleveland area in the early 1980s.
In 1998 the Indians became the first independent publicly traded Major League Baseball team when an IPO raised $60 million.
Paul Joseph Dolan (born July 7, 1958 in Chardon, Ohio), is an attorney and Major League Baseball (MLB) team executive who is currently part-owner, chairman, and chief executive officer (CEO) of the Cleveland Guardians. Dolan is also the “control person” for the team.
The Indians are in a minority when it comes to family ownership of an MLB franchise. Most are part of corporations or the property of outrageously wealthy individuals. The Dolan family bought the team from Dick Jacobs in 1999 for $323 million.
The statistic depicts the revenue of the Cleveland Indians from 2001 to 2020. In 2020, the revenue of the Major League Baseball franchise amounted to 117 million U.S. dollars. The Cleveland Indians are owned by Lawrence and Paul Dolan, who bought the franchise for 323 million U.S. dollars in 2000.
He has been married twice and has six sons. He is the son of Cablevision founder Charles Dolan and nephew of Cleveland Indians owner Larry Dolan.
2015 America’s Richest Families NET WORTH Cable television pioneer Charles Dolan founded Sterling Manhattan Cable in 1961 and the predecessor to HBO ten years later, then traded it for a Long Island cable company with just 1,500 subscribers and built the business into the behemoth Cablevision.
New York Mets owner Steve Cohen joined the list after purchasing the team in October 2020 for $2.4 billion. Cohen’s $16 billion places him fourth overall and makes him the wealthiest MLB owner by a wide margin.
Paul Dolan took over for his father, Larry Dolan, as the then-Indians’ controlling owner in 2013. The Dolan family purchased the franchise from the Jacobs family in 1999 for $323 million. According to Forbes, the Guardians are currently valued at $1.16 billion.
BEREA, Ohio — Browns owners Dee and Jimmy Haslam weren’t ready to jump into expectations for the 2021 season on Saturday. It’s safe to say they’ve learned their lesson.
The trio added that Dolans contention, that the family has no plans to sell to the team. Paul Dolan has reportedly been looking for another minority owner, ever since John Sherman departed to the Tribe in 2019 to purchase his hometown Kansas City Royals.