In Major League Baseball, ownership often plays as pivotal a role as the players on the field. Current trends among MLB's financial backers illustrate a clear division between those treating franchises as long-term investments and those whose ownership is driven by passion and competitive ambition.
John Fisher in Oakland, Bob Nutting in Pittsburgh, the Dolans in Cleveland, and John Henry in Boston exemplify owners focused on passive income and portfolio growth. Conversely, Peter Seidler of San Diego and Steve Cohen of the New York Mets invest with a definitive eye on competitive success.
A Passionate Stewardship in Philadelphia
John Middleton, who took control of the Philadelphia Phillies in 2015, is a notable example of an owner making significant financial commitments to the team's success. Under Middleton's leadership, the Phillies' investment in player payroll has seen a marked increase. The team's Opening Day active-roster payroll rankings rose from 13th in 2019, to seventh in 2020, and have held the fourth place position from 2021 through 2024.
These financial commitments are exemplified by the signing of high-profile free agents such as Bryce Harper in 2019. The roster today boasts well-compensated talents like Trea Turner, Zack Wheeler, Aaron Nola, J.T. Realmuto, and Nick Castellanos. Additionally, Kyle Schwarber and Taijuan Walker have both inked deals worth more than $70 million each with the Phillies.
Middleton's approach is notably driven by a deep connection to the city and its fans. "It's remarkable how special this city is as a fan base. It's why I keep telling everybody, it may be a privately-held business that we own, but it's not a private organization. It's a very public organization. It's a stewardship. We have an obligation. We are accountable to the fans and to the city. If you don't approach it that way, you shouldn't be an owner, in my opinion," Middleton passionately asserts.
Contrasting Ownership Strategies
While Middleton's investment strategy is heavily focused on winning and solidifying the bond between the team and its community, other owners take a more financially conservative approach. In cities like Oakland, Pittsburgh, Cleveland, and Boston, ownership groups emphasize financial stability and long-term profits over immediate competitiveness.
For instance, John Fisher of the Oakland Athletics, Bob Nutting of the Pittsburgh Pirates, and the Dolan family in Cleveland have garnered reputations for their reluctance to allocate lavish budgets for player acquisition and retention. John Henry's ownership of the Boston Red Sox, while occasionally punctuated with competitive bursts, largely follows this pattern as well.
Ambitious Spenders in San Diego and New York
In contrast, Peter Seidler of the San Diego Padres and Steve Cohen of the New York Mets represent another breed of owners challenging the investment-focused norm. Seidler’s direction with the Padres has deviated from a model solely fixated on financial prudence. He has shown a keen interest in crafting a competitive team, much like Steve Cohen, whose vast resources are being utilized to transform the Mets into perennial contenders.
The Texas Rangers exhibit a blend of these approaches, combining competitive investments with a portfolio strategy. This hybrid model showcases the evolving mindset within MLB ownership, where balancing financial growth with on-field success becomes a nuanced art.
Indeed, few MLB owners match Middleton’s financial enthusiasm. Yet, the variety of ownership strategies across the league reflects a diverse landscape in which the ultimate goals—whether financial or competitive—shape the fate of franchises. Middleton's tenure in Philadelphia underscores the potential for owners who see their role as more than businessmen; they view their stewardship as a commitment to the fans and the city that supports the team.