Cleveland Indians may soon have minority investor - Cleveland 19 News Cleveland, OH

Cleveland Indians may soon have minority investor

Indians may soon have minority investor (Source: Cleveland Indians) Indians may soon have minority investor (Source: Cleveland Indians)

By TOM WITHERS
AP Sports Writer

CLEVELAND (AP) - An investment bank hired by Indians owner Paul Dolan has identified a potential minority partner for the franchise and may be near a deal.

Steve Greenberg, managing director of Allen & Company, a New York-based financial boutique that has brokered sports acquisitions in the past, said Thursday the search has narrowed on a "small group." Greenberg said the hope is the deal would be finished by the end of the year.

Greenberg said a minority owner will ease the financial burden on Dolan and help bring stability to the Indians, who finished 81-80 this season and missed the playoffs for the second straight year.

The Dolan family has owned the Indians since 1999.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly