Phillies Managing Partner and Chief Executive Officer John Middleton announced today that three new investors will be added to 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 founder, chairman and chief executive officer of Conshohocken, Pa.-based Morgan Properties, a leading real estate investment management firm. His sons, Jonathan and Jason Morgan, oversee the day-to-day business operations of Morgan Properties and represent the next-generation leaders growing the platform. Morgan Properties owns a multifamily portfolio comprising over 96,000 units across more than 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. Through the Morgan Family Foundation, Morgan, his wife Hilarie and their children, Jonathan, Brittany and Jason, have supported countless philanthropic organizations in the Philadelphia area including a recent $50 million donation to the Children’s Hospital of Philadelphia (CHOP) to create a state-of-the-art facility, the Morgan Center for Research and Innovation, and fund life-changing research. Additionally, Morgan currently serves as the chairman of the Board of Trustees of Temple University. The Morgan family is also one of the limited partners in the Washington Commanders.

Weissenberger is president of Westover Companies, founded in 1965 and headquartered in King of Prussia, Pa. Westover Companies provides quality living for its residents at nearly 15,000 apartments in over 70 communities in the Philadelphia suburbs, New York, New Jersey, Delaware, Maryland and Florida. Additionally, Westover Companies manages commercial and retail space in the Philadelphia area. Weissenberger and his employees have been strong supporters of Alex’s Lemonade Stand, Project HOME, hope+door and other non-profit organizations.

“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.”

“Growing up near Phoenixville, Pa., the Phillies have always been a big part of my life,” said Weissenberger. “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.”

In July 2023, Stan Middleman joined the Phillies ownership group as a new limited partner, only the second time in over 40 years that a new partner was added to the group. The Buck family continues to hold an ownership stake in the club, along with the Montgomery family and Pat Gillick.

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.

Galatioto Sports Partners served as the Phillies investment banker in the deal, its second such representation.