Bryn Mawr resident John Middleton wasn’t always in the public eye. But in recent years, as the Philadelphia Phillies’ managing partner and principal owner, he’s become more well-known. And this season, Middleton is taking big risks with huge payoffs.  

The team went over the Major League Baseball’s $230 million salary cap in pursuit of free agents among the likes of Kyle Schwarber and Zack Wheeler. Now the Phillies will be subject to a luxury tax, writes John George for the Philadelphia Business Journal.  

The team’s place in this season’s World Series seems to prove it to be a worthy investment.  

But who is the man behind the money? 

John Middleton is a graduate of Haverford School, Amherst College and Harvard Business School. In 2007, he sold his family’s tobacco business for $2.9 billion. At 67-years-old, his net worth stands at $3.4 billion.  

Back in 1994, he paid $18 million for a 15 percent share of the team. Now he holds 48 percent ownership of the team after investing another $51 million.  

An avid Phillies and Eagles follower since childhood, Middleton recognizes the uniqueness of Philly sports fans.  

“I know the fans well here because, frankly, I’ve been a fan for nearly 60 years. When we win, we will sell out. We’ll draw extremely well.” Middleton told the Philadelphia Business Journal in 2018. 

“There are cities in this country where you can have a championship-caliber team and fans won’t show up. That’s not an issue in Philadelphia, period.” 

Read more about the Phillies’ managing partner’s tenacity for success in the Philadelphia Business Journal.