CLEVELAND: The Indians on Friday announced that John Sherman, a Missouri-based entrepreneur, has been added as a minority investor and vice chairman.
Indians CEO and owner Paul Dolan has been seeking a minority partner for roughly the last year in part to help with the financial burden of owning the team and potentially to increase salaries. Per a report from last year, Dolan was shopping roughly 30 percent of the team.
It’s still unclear what Sherman paid for his stake or what his ownership percentage will be. It’s also unclear exactly what effect Sherman will have on future payrolls.