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Special Report: Who Actually Owns The Phillies?
With the Phillies in a public firestorm, NBC10.com looks at the hidden group that owns the lackluster team.The Phillies' ownership has remained a mystery since the Carpenter family sold the team in 1981.From press reports and public records, here is what we can glean about one very private group of owners.
Claire BetzThe Inquirer's Bill Conlin - who also knows more about the team than any other living person - said recently the elderly widow owns 33 percent of the team.Betz's late husband, John D. Betz, bought a stake in the team when the Carpenters sold the Phillies. The family business, Betz Laboratories, was later sold to General Electric.The New York Times reported in 1990, when John D. Betz died at the age of 72, that he and his partners bought the Phillies for $30 million in 1981. In 2005, Forbes reported the Phillies were valued at $390 million.Claire Betz reportedly splits her time between Philadelphia and Florida. She is on the board of the Schuylkill Center, a local conservation group, along with Phils' co-owner Dave Montgomery.Bill GilesGiles has a financial stake in the team, but isn't believed to be a big investor. He had been a team vice president until 1982. But he is not the principal owner.Giles was the team's managing partner and perceived as its owner when the current group bough the Phillies from the Carpenters in late 1981.In reality, Giles represented the other owners in public.He held the title as managing partner until 1997, when Montgomery assumed that role. He also was the team general manager in the 1980s.His late father was former National League president Warren Giles.Dave MontgomeryMontgomery is the current face of management as team President, even thought it is unclear if he has a financial stake in the team.He grew up in Philadelphia and was a Phillies fan.In 1999, Montgomery gave an extended interview with the Penn Gazette, since he is a Wharton School graduate with an emphasis on marketing.He said Giles hired him in 1971 to work in the Phillies' ticket sales office. He later became Sales Director.When the current group bought the team, Giles appointed Montgomery as his top assistant in 1982.The Buck BrothersThe three Buck brothers are venture capitalists Alexander K. Buck, J. Mahlon Buck, Jr. and William C. Buck.Officially, they are known as Tri-Play Associates.J. Mahlon Buck Jr. is president of T.D.H. Capital Corp., a venture capital firm based in Radnor, Pa. All three brothers are connected to the firm, according to media reports.The firm was started in 1977 and primarily invests in small businesses.According to a 1983 marriage announcement, their father, J. Mahlon Buck Sr., was president of Smith, Kline & French, Inc.For decades, the Buck family has been heavily involved in local philanthropy, including gifts to the zoo, orchestra and numerous educational institutions.John S. MiddletonMiddleton is a 1977 graduate of Amherst College and a Philly native.According to Amherst, "Middleton heads his family's business, which includes McIntosh Inns, Bradford Holdings, and Double Play, Inc."The Courier Post reported in 2004 that Middleton ran a "fifth-generation" family business.There were reportedly 15 McIntosh Inns as of last year.Little else is known about Middleton. Amherst said Middleton was "fiercely private and unfailingly modest" in a brief article about an honorary degree he received.Middleton is also on the Board of Trustees of Penn Medicine.
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