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PHILADELPHIA -- Stanley C. Middleman is buying an ownership stake in the Philadelphia Phillies .
John Middleton, the Phillies' managing partner and CEO, announced the addition of Middleman as a limited partner on Tuesday.
"This is a significant moment in our partnership's history as it is only the second time in over 40 years that we have added a new partner," Middleton said in a statement.
Middleman, a Philadelphia native and lifetime Phillies fan, owns a mortgage company based in South Jersey.
"It truly is a dream come true," he said.
Middleman's addition will become official in July following approval by Major League Baseball.