Who Are the Phillies Owners?

One of the best kept secrets in Philadelphia is theJohn was the closest thing to passionate out of the
phantom group of people we loosely call the Philliesgroup. Rumor has it, Middleton was a big reason why
owners. The Phillies' ownership group has remainedthe Phillies signed Jim Thome in 2002. He has been
more of a mystery in this town than Bigfoot or theattributed as declaring, "I'll pay for him myself!"
Bermuda Triangle.It was announced in November of 2007 that
While winning the World Series in 2008 took a ton ofMiddleton had sold his family cigar company to the
heat off the Phillies owners, fans renewed theirAltria Group, owners of Phillip Morris, for $2.9 billion.
hatred for the faceless, nameless individuals who weFans had a brief moment of hope that maybe, just
never see or hear when the club dealt Cliff Lee formaybe, we could have an ownership committed to
the likely reason of saving $9 million bucks. It is timewinning. David Montgomery shut down those dreams
now that we investigate these Phillies ghosts, whoinstantly. In a statement, Montgomery said, "John
are quite skilled at remaining invisible. DavidMiddleton is a limited partner with the Phillies and his
Montgomery is here to speak for the owners thatpersonal and business interests have no impact on
allowed so many years of horrid baseball beforethe operation of the ballclub." That's a pretty strong
getting lucky in 2008, and to make sure that fansstatement from the very mild mannered
never, ever learn who they really are.Montgomery. As you will soon learn, that is exactly
David Montgomery said recently that the Phillieswhat it means to be a limited partner, limited. But, if
owners are in the red and have been since theyJohn Middleton could somehow grab a majority
took over the team. HA! I guess we should all bowstake, he could have called the shots and told
down and thank these wonderful people for selflesslyMontgomery to hit the road if he wanted.
throwing away their hard-earned money for ourHard to say if Middleton even attempted to buy the
enjoyment. Right. Montgomery was not lying, but heteam, but the program during a ceremony in 2004 at
was surely bending the truth as well as any politicianAmherst said, "Montgomery runs the show. He just
out there. I bet they have been losing money... inreaffirmed that fact. The partners are supposed to
their operating costs. But the team value is anstay out of the way, and these partners do. It is
entirely different story. Let's put it this way: Thefairly well known that John S. Middleton has been an
original group bought the team in 1981 for $30 million.outlier on some issues - breaking loose the money to
The 2008 Phillies were reportedly worth $481 millionsign Jim Thome was thought to be one of them."
(and that's before winning the World Series). That'sDavid Montgomery
over a 1,600 percent increase in the value of theBill Giles hired David Montgomery in 1971 to work in
team...1,600 percent! Trust me, they are NOTthe Phillies' ticket sales office and he later became
LOSING MONEY.Sales Director. When the current group bought the
Before revealing these Phillies Phantoms, let's discussteam, Giles appointed Montgomery as his top
how exactly they came to be the owners. In 1981assistant in 1982. Quite possibly his most revealing
when Ruly Carpenter announced he was selling thequote was, "I just believe the organization needs an
team, Bill Giles assembled a group of investors to buyimage that's not directly tied to wins and losses."
the Phillies. With only $50,000 of his own to spend, heBill Giles
needed a little help. He took a 10 percent share ofGiles started with the Phillies as the vice president of
the team, oversaw the day-to-day operations, andbusiness operations in 1969. He was the team vice
became the spokesperson of the group, allowing thepresident until 1982, team president from 1982 to
others to hide in the shadows.1987, and General Manager from 1984 to 1987. Giles
The Buck brothers invested $5 million. Widener familydecided to step down as general partner in 1997 and
heir Fitz Dixon and horse-racing mogul Bob Levytook the title of managing partner. He is the son of
combined for $3.5 million. John D. Betz from Betzformer National League president Warren Giles and
Laboratories pledged $5 million. Taft Broadcastingthe current honorary president of the National
took care of the rest, throwing in $15 million.League.
In 1986, Taft Broadcasting sold its 47 percent shareLimited Partners
to Bill Giles and crew for $24.1 million. Bob Levy andBefore moving forward, it is helpful to know what it
Fitz Dixon have also since cashed out. Bill Giles handedmeans to be a limited partner. Bill Conlin describes it in
over his general partner position to Davidbetter detail in his article on the limited partnership,
Montgomery in 1997, who also took a sliver of thebut here is the Cliff's Notes version. Basically, the
company.general partner (was Giles, now Montgomery)
That leaves Claire Betz, the Buck Brothers, and Johngathers the group, negotiates the sale of the team,
Middleton as the unnamed sources remaining. Let'sis responsible for all debt and lawsuits, and gets a
see what we can dig up, shall we? Let's meet thelittle extra coin in the form of a salary.
cast:So, what does it mean to be a limited partner? It
Claire S. Betzmeans they are limited to their cash investment and
Claire S. Betz is approaching the age of 90 andnothing else. Don't like what is going on? Want to get
shares time between her homes in Gwynedd, PA andrid of David Montgomery? Too bad. When they
Key Largo, Florida. Claire's husband, John Drew Betz,agreed to terms as limited partners, they gave all the
bought his share of the Phillies in 1981 and she tookpower to the general partner.
over ownership amidst a nice little soap opera. See,As Conlin said regarding Montgomery, "Unless you can
her son, Peter Betz, was murdered by herprove misfeasance and worse, it would be hard to
16-year-old grandson, Justin Betz, in 1988. Justindislodge him." He says they probably also signed an
pleaded guilty to third-degree murder and John diedagreement not to criticize the Phillies' leadership
of cancer at the age of 72 during the trial. That'spublicly. Just like in the Marge Schott situation many
when she took over his share. The Inquirer's Bill Conlinyears ago, if David Montgomery does not want to
valued her stake at 33 percent of the team in aleave, he won't. Simple as that.
November 2007 article.Moving On
The Betz' made their fortune through a family-ownedWe should have no reason to hate any of the
water-purifying company called Betz Laboratories ofindividuals running the team. We don't know them,
which John Betz was the chairman. Betz Laboratoriesand they haven't done anything illegal or unethical
was later sold to General Electric. She and Davidthat we know of. In fact, they appear to be very
Montgomery are also on the board of the Schuylkillprincipled and classy people.
Center, a local conservation group. When ClaireHowever...
passes away, the other partners will likely buy herBuying a professional sports team is not just another
shares.investment where you can let your stock broker do
The Buck Brothersall the work and call you every once in a while with
The Buck brothers: Alexander K. Buck, J. Mahlonan update. Especially when you ask the city and
Buck, Jr., and William C. Buck. Officially known asstate for $260 million to help build your new ballpark,
Tri-Play Associates, the three brothers are involvedyou have given up the right to be "fiercely private"
with T.D.H. Capital Corp., a venture capital firm basedas Middleton was described by Amherst.
in Radnor, PA. The firm was started in 1977 andWe have a rare opportunity for greatness with the
primarily invests in small businesses.current team. We need to take advantage of the
They also have been heavily involved in local charity,moment while we can, and our ownership group has
including gifts to the zoo, orchestra, and education.shown us time and time again that they won't do
"The Bucks are very principled. Very, veryanything to help. We already missed the boat once
gentlemanly. Very, very private," says J.B. Doherty,by forcing Cliff Lee out. Let's stop it right there and
general partner of TDH Capital.get them out of here.
John MiddletonJust imagine for a second how different things would
John S. Middleton is in his mid-fifties and splits his timebe if someone like Pat Croce, Ed Rendell, or heck
between Bryn Mawr and Stone Harbor. He is a 1977even Comcast-Spectacor was running the team....
graduate of Amherst College, and according to them,Don't hold your breath. We won't get a new owner.
"Middleton heads his family's business, which includesMany have tried, and none have succeeded. The
McIntosh Inns, Bradford Holdings, and Double Play,Bucks, the Betz', and the Middletons will keep passing
Inc." He inherited his portion of the ownership fromaround their shares among themselves until the time
his father, Herbert H. Middleton. He is also on thethat we are all ghosts, just like them.
Board of Trustees of Penn Medicine.