MLB owners have formally approved Paul Dolan as the Indians "control person." Dolan is the team's chairman and chief executive officer.

Larry Dolan, Paul's father, and his family purchased the Indians in February of 2000 for $323 million. He has become less and less involved in the daily operations of the team over the years. Upon purchase of the club, Paul Dolan served the Indians as vice president and general counsel until he was named team president in 2004 and chairman and CEO in 2011.

"I am honored by the faith Major League Baseball's owners have in me," said Dolan in a statement. "In Cleveland we remain committed to winning a World Series championship, while also enriching the lives of Greater Clevelanders through our community outreach efforts."