The Phillies announced today that three new investors have been added to the ownership group. This is now the second time in the last year that the Phillies have done so, announcing last June that Stanley C. Middleman had purchased one-third of the Buck Family’s interest. Two of those new investors have been named, Mitchell L. Morgan, and Guntram J. Weissenberger Jr., with a third remaining to be anonymous (spooky!).
Both Morgan and Weissenberger are local guys with large businesses in the area. Like Middleton and Middleman, they are both huge Phillies fans. It is encouraging to see Middleton continue to bring in locals rather than dolling out shares to private equity. It wasn’t announced how much stake these three may have purchased, but the release did indicate that no one partner has a majority share and that John Middleton will still be in the managing partner and CEO.
Why might ownership be bringing in new owners/cash? Could they be making a pitch for a big name free agent that would put them well over the third luxury tax threshold? Might we be seeing bigger improvements to Citizens Bank Park and its immediate surroundings? Are they looking to find replacement ownership for the Buck Family’s shares? Its fun to speculate!
Lastly, who could this anonymous third investor be? Could be Grimace be jumping ship from the Mets? Is Josh Harris trying to sneak his way into another franchise to ruin? Have the 2008 Phillies pulled their funds and purchased a stake? Is Gritty plotting a hostile takeover? The possibilities are only limited by your imagination.
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