The Philadelphia Phillies Managing Partner and Chief Executive Officer John Middleton announced on November 1st that three new investors have joined the team’s ownership group – Mitchell L. Morgan, Guntram J. Weissenberger Jr. and a third investor who wishes to remain anonymous. The Middleton and Middleman families also will be contributing additional funds.
Morgan is the founder, chairman, and chief executive officer of Conshohocken-based Morgan Properties, a real estate investment management firm. Morgan Properties’ multifamily portfolio includes 96,000 units across over 350 communities in 19 states. The company is the nation’s largest private multifamily property owner and the third-largest apartment owner in the country.
As MoreThanTheCurve.com recently reported, Morgan Properties has invested heavily in Conshohocken and moved its corporate headquarters to the borough’s riverfront in 2024. It is now seeking zoning relief to construct an additional office building adjacent to the three owns. That hearing is scheduled for November 18th. Morgan also recently joined Forbes’s list of the 400 richest Americans.
“We are fortunate to have three new investors, all of whom have lifelong, multi-generational ties to the Philadelphia region and its business, academic and charitable communities,” said Middleton. “Their significant investment is a vote of confidence in our baseball operations, and the financial resources they are providing will allow us to pursue our strategic growth opportunities and long-term goals. Additionally, their strong commitment to Philadelphia and their philanthropic leadership perfectly aligns with the Phillies, making them the ideal partners to continue to grow our franchise.”
“On behalf of the Morgan family, 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,” said Mitchell Morgan. “We are thankful to John and the entire Phillies organization for the opportunity of a lifetime. As lifelong Phillies fans, our family is passionate about everything we do, and the Phillies is an emotional, not a financial, investment. We look forward to supporting John in continuing to build a winning culture and bringing championships back to Philadelphia.”
The Phillies is a limited partnership formed in 1981. No partner owns a majority of the team. There will be no change in the management of the club as Middleton will remain the club’s managing partner, chief executive officer, and MLB control person.
Photo – Headshot from Morgan Properties