Cleveland Indians owner Paul Dolan is hoping to sell a significant minority stake in the club for a rich price — but he may be playing on a field of dreams.

Dolan, who is under fire from fans for one of the smallest payrolls in the big leagues, hired boutique investment bank Allen & Co. several months ago to shop roughly 30 percent of the team, The Post learned.

He doesn’t have deep enough pockets and is looking to a new investor to ramp up spending on salaries, sources said. The club’s payroll of $76 million ranks 26th among Major League Baseball’s 30 teams.

So far, Dolan, who is the cousin of New York Knicks and Rangers owner James Dolan, is having a difficult time finding an investor, sources said.

One problem is price. Dolan believes the franchise is worth around $800 million, which is rich considering the team is just breaking even.

There are also other strikes against the Cleveland club, according to potential suitors.

The Indians don’t own a regional sports network and are early in a long-term media rights deal that it cannot renegotiate.

“Where’s the upside?” asked one a source familiar with the sale process.

The San Diego Padres fetched $800 million in 2012. While not a winning team at the time, the Padres attracted investors thanks to a $1.2 billion TV deal.

Without a big TV contract, sports industry sources say, the Indians are worth about $600 million.

Meanwhile, in Tribe Town, fans have been calling on Dolan to sell the entire team

“He’s not interested at all in giving up operating control,” one source said.

Dolan has failed to deliver a championship team to fans starved for a title and is getting blamed for not spending more on salaries.

This year has been particularly painful for fans, whose hopes were dashed despite high expectations at the start of the season, thanks to the team’s young talent.

“This is a team that should be in the hunt (for an American League Central Division title),” Dolan said in April to the Cleveland Plain-Dealer. “We should be in the picture.”

But with the baseball season nearing the end, the Indians had a record of 60 wins and 66 losses as of Thursday.

The Dolan family’s roots are in Cleveland. Larry Dolan and his family bought the Indians for $323 million in 1999 from Richard Jacob. Under the Dolans’ ownership, the team made the playoffs in 2007 and 2013, but has mostly disappointed.

When Jacob owned the team, player salaries were among the highest, and games were frequently sold out. Under the Dolans, payroll has been near the bottom — and so has attendance. The Indians have the second-worst home attendance in baseball, averaging 18,309 fans a game.

The Indians did not respond for comment.