Citizens Bank Park | Philadelphia Phillies
Citizens Bank Park | Philadelphia Phillies
The Philadelphia Phillies have announced the addition of three new investors to their ownership group. Managing partner John Middleton confirmed that Mitchell L. Morgan, Guntram J. Weissenberger Jr., and an unnamed investor will join the team's limited partnership. The decision aims to strengthen the financial base of the team while maintaining its competitive edge.
John Middleton stated, "It came down to broadening the base of investors or retaining our interest," explaining that expanding the investor group was in the long-term best interest of the Phillies. Despite this change, he emphasized that his stake in the team remains substantial.
As of June 2023, Middleton owned 48.75 percent of the Phillies. The Buck family's Tri-Play partnership held 32.5 percent before their divestment, with Stanley C. Middleman at 16.25 percent, Pat Gillick at 1.5 percent, and David Montgomery's family at 1 percent.
Middleton stressed that winning is a priority for potential investors joining the group: "That hasn’t changed." Although one of baseball’s highest payrolls is set to rise in 2025, he indicated no intention to exceed luxury tax thresholds excessively: "It’s hard to go much crazier with the payroll."
Phillies president Dave Dombrowski shared similar sentiments about player acquisitions: "I don’t think we need to have more star players," expressing confidence in their current roster.
Mitchell L. Morgan leads Morgan Properties and recently donated $50 million to create a research center at Children's Hospital of Philadelphia. Morgan expressed enthusiasm for joining as an investor: “We could not be more excited and prouder.”
Guntram J. Weissenberger Jr., president of Westover Companies, has supported various non-profit organizations alongside his company operations in several states.
The third investor prefers anonymity, following a tradition among some previous partners who valued supporting the team without public recognition.
Middleton reflected on this trend: "They’re not alone... There were partners in the Phillies who really didn’t want to be known."
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