Philadelphia — The Philadelphia Phillies have enlarged their ownership group.
On Friday, managing partner John Middleton announced that the Phillies had welcomed three new investors to their limited partnership: Mitchell L. Morgan, Guntram J. Weissenberger Jr., and a third investor who preferred to remain unknown. The Middleton and Stanley C. Middleman families will also make further contributions to the group.
A stronger group will pour funds into the Phillies’ operations as they deal with debt from the COVID-19 outbreak, operating losses since then, the pursuit of a sprawling campus in Clearwater, Fla., enhancements at Citizens Bank Park, and more.
Middleton will continue to be the club’s managing partner, chief executive officer, and MLB control person, though the family sold some of their stake in the club to extend ownership. “It came down to broadening the base of investors or retaining our interest,” Middleton said Friday. “That’s exactly how it was. We concluded that it was in the best long-term interests of the Phillies to bring in an extra investor or two, so we accepted a little lower stake. “But not much.”
Sources say Middleton held 48.75 percent of the team in June 2023, when Middleman arrived. At the time, Tri-Play—the Buck family’s limited partnership—owned 32.5 percent, followed by Middleman at 16.25 percent and Pat Gillick (1.5 percent).
percent), and David Montgomery’s family (1%). When the Buck family decided to divest a few years ago, Middleton made it obvious to prospective investors that he values winning above all else, so anyone who joined had to agree with that mindset.
That has not altered. The Phillies have had one of baseball’s biggest payrolls in recent years, and that figure will remain among the highest in 2025. In reality, it will increase to some extent. However, the Phillies’ recent ownership changes do not guarantee that they will exceed the third and fourth luxury tax levels.
“It’s hard to go much crazier with the payroll,” Middleton remarked.
Still, as implausible as it is, expect the Phillies to remain linked to free agent outfielder Juan Soto until he signs in free agency.
“I don’t think we need to have more star players,” Phillies president of baseball operations Dave Dombrowski said last month. “We have as many stars as almost anyone in baseball. So I don’t think you need to add anything else. John is really accommodating and helpful, but you are still working with a payroll.
“I don’t believe that the answer is always a star player. I’m not saying we won’t get one, but I don’t believe it’s absolutely necessary.”
Regardless of how unlikely it seems, the Phillies are expected to stay linked to free agent outfielder Juan Soto until he signs.
“I don’t think we need to have more star players,” Phillies president of baseball operations Dave Dombrowski said last month. “We have more stars than nearly anyone in baseball. So I don’t think you need add anything else. John is really accommodating and helpful, but you are still dealing with a paycheck.
“I don’t think the answer is always a star player. I am not saying we won’t get one, but I don’t think it is absolutely necessary.”
“We could not be more excited and prouder to be a part of this world-class organization and join the ownership group of the Phillies,” Morgan said in a news release. “We are grateful to John and the entire Philadelphia Phillies organization for providing us with an opportunity of a lifetime. As lifelong Phillies fans, our family is enthusiastic about everything we do, and supporting the Phillies is an emotional, not financial, investment. We are excited to support John in his efforts to create a winning culture and bring championships back to Philadelphia.”
Weissenberger is the president of Westover Companies, which was created in 1965 and has its headquarters in King of Prussia, Pennsylvania. Westover Companies provides exceptional living for its inhabitants at almost 15,000 apartments in over 70 neighborhoods in the Philadelphia suburbs, New York, and
Jersey, Delaware, Maryland, and Florida. It also manages commercial and retail properties in the Philadelphia area. Weissenberger and his staff have contributed to Alex’s Lemonade Stand, Project HOME, hope+door, and other non-profit organizations. “Growing up near Phoenixville, Pa., the Phillies have always been a big part of my life,” Weissenberger stated. “To join John and his entire team is not only fulfilling a childhood dream, but also proof that I was always destined to be a better businessman than shortstop.”
Middleton stated that the unknown investor merely wants to avoid the spotlight.
“They’re not alone,” Middleton explained. “When we first joined the Phillies 30 years ago, there were partners who really didn’t want to be known. They admired the squad and they wanted “To assist the team.”
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