Philadelphia Phillies managing partner and CEO John Middleton announced the addition of three new investors to the team’s ownership group —Mitchell L. Morgan, Guntram J. Weissenberger Jr, and a silent partner. The Middleman and Middleton families will also contribute additional funds, according to the release.
Two of the new investors are involved in the multi-family construction business. Morgan and his family own and operate Morgan Properties, a multi-portfolio real estate investment company based in Conshohocken. Morgan Properties operates 350 communities in 19 states. Weissenberger is also deeply involved in the apartment business, he owns the King of Prussia based Westover Companies.
The additional three investors will not change the Phillies limited partnership ownership dynamic that has been in place since 1981. Middleton will still serve as the managing parter, CEO, and public face of the ball club.
