CLEVELAND, Ohio — Dee and Jimmy Haslam own the Browns. Dan Gilbert owns the Cavaliers. But when the question is raised as to who currently owns the Cleveland Guardians, the answer can be both clear and confusing.
With the passing of Larry Dolan last week at age 94, it is fair to ask who has a controlling interest in the club, and what the future of the team’s ownership might look like moving forward.
First, the simple answer: Paul Dolan, one of Larry’s six children, is the owner, chairman and chief executive officer of the Cleveland Guardians. Dolan and his family own about a 75% controlling stake and run the club as the their primary business, a rarity among Major League Baseball owners.
Paul Dolan was named as the primary control person of the Cleveland franchise in 2013 following a vote of MLB owners. He joined the organization when his father took over in 2000, and served as president from 2004 to 2010. The younger Dolan began serving as chairman and CEO in 2011.
The Dolan family’s ownership of the Guardians is now in its 26th season, the longest tenure of any owner in franchise history. Under the Dolans’ ownership, Cleveland has won seven division titles, two American League pennants and reached the postseason nine times. Since 2012, only the Yankees and Dodgers have more wins than Cleveland.
When Larry Dolan purchased the team, then known as the Indians, 25 years ago for a sum of $323 million from Dick Jacobs, he did so with the help of four family trusts that were bolstered by stock holdings in Cablevision, then owned by his brother, Charles Dolan.
At the time of the purchase Larry Dolan told reporters, “I am the owner. Myself and four family trusts. My brother (Charles) is not involved; Cablevision Systems is not involved.”
Paul Dolan, reiterated that message in late 2015 when news broke that Charles Dolan was selling Cablevision for an estimated $17.7 billion. Charles Dolan passed away in December at age 98. His son, James Dolan, now owns the New York Knicks, New York Rangers and Madison Square Garden and according to a team source does not have any ownership interest in the Guardians.
New Jersey Devils owner David Blitzer was approved in 2022 as a minority investor for the Guardians.Getty Images
Minority investors
In 2015, Paul Dolan hired a brokerage firm to assist with the process of bringing a minority investor on board. Allen & Co., a privately held boutique investment bank located in New York City, helped connect the Dolans with John Sherman, a Kansas City businessman who was approved as vice chairman and minority partner in August of 2016.
The club never divulged what percentage of the team Sherman purchased, but in August of 2019, a group led by Sherman agreed to buy his hometown team, the Royals, for a reported $1 billion. That move forced Sherman to divest his shares in Cleveland, which went into escrow until Dolan could find another partner.
Enter New Jersey investor and experienced sports team owner David Blitzer, who was approved by MLB owners in June 2022 to take on a 25% share of the club. Blitzer’s deal reportedly includes an option for him to become majority owner by 2028, though it is unclear how much of a stake the Dolans intend to retain when that comes to pass.
Blitzer owns controlling interests in the NHL’s New Jersey Devils and NBA’s Philadelphia 76ers as well as several association football clubs (soccer) and is a limited partner in the group that owns the Washington Commanders.
At the time of his approval, Blitzer said his goal was to support Paul Dolan and Guardians executives in their quest to bring a World Series title to Cleveland.
“We also look forward to assisting the Guardians in their mission of using the platform of baseball to drive positive change in the communities our team serves,” Blitzer said.
Below is a timeline of the Dolan family’s ownership excerpted from the Guardians 2025 media guide:
May 13, 1999
Then-owner Richard E. Jacobs announces that he and the Board of Directors have engaged The Goldman Sachs Group and McDonald Investments to identify potential buyers for the franchise.
November 4, 1999
Jacobs announces the company has signed a definitive agreement to sell the franchise to Lawrence J. Dolan and family trusts.
January 19, 2000
Major League Baseball Owners unanimously approve the sale of the club from Richard E. Jacobs to Lawrence J. Dolan and family trusts.
February 7, 2000
Shareholders of the Cleveland Indians Baseball Company, Inc. approve the transfer of the club from Richard E. Jacobs to Lawrence J. Dolan and family trusts. Meeting was held in the Terrace Club at Jacobs Field.
February 15, 2000
Lawrence J. Dolan and family trusts assume ownership of the Cleveland franchise.
January 10, 2013
MLB Owners unanimously approve Paul J. Dolan as primary control person of the Cleveland franchise.
Guardians ownership history
Charles W. Somers (1900-1916)
Jim Dunn (1916-1922)
Estate of Jim Dunn (1922-1927)
Alva Bradley (1927-1946)
Bill Veeck (1946-1949)
Ellis Ryan, President (1949-1952)
Myron H. Wilson, President (1953-1956)
William R. Daley (1956-1962)
Gabe Paul (1963-1966)
Vernon Stouffer (1967-1972)
Nick Mileti, President (1972-1976)
Ted Bonda, President (1977-1978)
Steve O’Neill (1978-1983)
Estate of Steve O’Neill (1983-1986)
Richard E. Jacobs (1986-2000)
Larry Dolan, Paul Dolan and family trusts (2000-present)
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