Major League Baseball’s (MLB) Philadelphia Phillies have added Stanley Middleman to their ownership group, with the founder and chief executive of Freedom Mortgage acquiring a minority stake in the franchise.
- Middleman to acquire one-third of the Buck family’s interest in the team
- Freedom Mortgage founder to own 16.25 per cent stake, with the Buck family’s share dropping to 32.5 per cent
- Other Phillies minority owners include Pat Gillick and the Montgomery family
- Deal subject to league approval
Middleman becomes the second addition to the Phillies’ ownership group in over 40 years. John Middleton remains the team’s managing partner, chief executive and MLB control person, owning a 48.75 per cent stake in the team.
“I’m delighted to be joining such a wonderful organisation,” Middleman said in a statement. “It truly is a dream come true.
“Having grown up in Philadelphia, and spending my childhood as a huge Phillies fan, I feel truly blessed to have such an amazing opportunity in my lifetime. My family and I hope we can be a small part in the continuing success of this world-class sports organisation.”
Middleman will get his chance to watch the Phillies from the owners’ suite on 8th June when the team host the Detroit Tigers.