Joseph Alexander Wilson Iglehart (November 15, 1891 – November 16, 1979) was an American financier who also was an executive for the Columbia Broadcasting System (CBS) and two Major League Baseball (MLB)

franchises Franchise may refer to: Arts, entertainment, and media * Media franchise, a collection of related creative works, such as films, video games, books, etc., particularly in North American usage * "Franchise" (short story), a 1955 short story ...

. Born in

Baltimore, Maryland Baltimore is the List of municipalities in Maryland, most populous city in the U.S. state of Maryland. With a population of 585,708 at the 2020 United States census, 2020 census and estimated at 568,271 in 2024, it is the List of United States ...

on November 15, 1891, he graduated from the Boys' Latin School of Maryland in 1910 and

Cornell University Cornell University is a Private university, private Ivy League research university based in Ithaca, New York, United States. The university was co-founded by American philanthropist Ezra Cornell and historian and educator Andrew Dickson W ...

in 1914. He served in the American military during World War I, becoming the youngest

major Major most commonly refers to: * Major (rank), a military rank * Academic major, an academic discipline to which an undergraduate student formally commits * People named Major, including given names, surnames, nicknames * Major and minor in musi ...

in the

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at the time of his appointment in 1917. After the war, he was employed as an

investment banker Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by unde ...

by the

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age firm W. E. Hutton & Co., where he eventually became a partner. He was later associated with CBS as an investor, chairman of the

finance Finance refers to monetary resources and to the study and Academic discipline, discipline of money, currency, assets and Liability (financial accounting), liabilities. As a subject of study, is a field of Business administration, Business Admin ...

committee and, for 47 years starting in 1932, a member of the board of directors. He was one of the investors in a

Clarence Miles Clarence Miles (June 29, 1897 – October 8, 1977) was the chairman of the board and president of the Baltimore Orioles of the American League during the and seasons. Miles was a native of the Eastern Shore. He had gone to school with Wall ...

-led group that successfully purchased the St. Louis Browns from Bill Veeck on September 29, 1953, moving the franchise to Baltimore and renaming it the Orioles for the season. He was appointed the team's chairman of the board after Miles' resignation in early November, 1955. Iglehart eventually became the largest individual shareholder, with a 32% stake in the ballclub, which emerged as a legitimate pennant contender by on the strength of its scouting, player development and farm system. Iglehart was in violation of MLB

conflict of interest A conflict of interest (COI) is a situation in which a person or organization is involved in multiple wikt:interest#Noun, interests, financial or otherwise, and serving one interest could involve working against another. Typically, this relates t ...

rules when CBS' purchase of an 80% investment in the

New York Yankees The New York Yankees are an American professional baseball team based in the Boroughs of New York City, New York City borough of the Bronx. The Yankees compete in Major League Baseball (MLB) as a member club of the American League (AL) Am ...

was approved by

American League The American League of Professional Baseball Clubs, known simply as the American League (AL), is the younger of two sports leagues, leagues constituting Major League Baseball (MLB) in the United States and Canada. It developed from the Western L ...

team owners on August 13, 1964. He was ordered by league president

Joe Cronin Joseph Edward Cronin (October 12, 1906 – September 7, 1984) was an American professional baseball player, Manager (baseball), manager and executive. He played in Major League Baseball (MLB) as a shortstop, most notably as a member of the Bost ...

to sell his interest in either the Orioles or CBS."Orioles' Official in Stock Conflict; League Orders Iglehart to Drop Shares in C. B. S.," ''United Press International'' (UPI), Tuesday, November 3, 1964.
Retrieved December 23, 2021 He ended up selling his 64,000 shares to another original Orioles investor, the National Brewing Company, for $1.6 million on May 25, 1965. The brewery gained controlling interest at 65%, with its

president President most commonly refers to: *President (corporate title) * President (education), a leader of a college or university *President (government title) President may also refer to: Arts and entertainment Film and television *'' Præsident ...

Jerold Hoffberger Jerold Charles Hoffberger (April 7, 1919 – April 9, 1999) was an American businessman. He was president of the National Brewing Company from 1946 to 1973. He was also part-owner of the Baltimore Orioles of the American League from 1954 t ...

, succeeding Iglehart as board chairman. Oddly enough, the day after the sale, the National Gypsum Company (now part of Lafarge), another enterprise of which he was on the board, rechristened in his honor a deep sea tanker that was converted into what was then the world's largest self-unloading cement-carrying

lake freighter Lake freighters, or lakers, are bulk carriers operating on the Great Lakes of North America. These vessels are traditionally called boats, although classified as ships. Freighters typically have a long, narrow hull, a raised pilothouse, and the ...

, the ''J.A.W. Iglehart''. After leaving the Orioles, he served on the Yankees' board of directors until the team was sold in January, 1973 to an investment group led by

George Steinbrenner George Michael Steinbrenner III (July 4, 1930July 13, 2010) was an American businessman who was the principal owner and managing partner of Major League Baseball's New York Yankees from 1973 until his death in 2010. He was the longest-serving own ...

. He spent one more season with the Bronx Bombers as a consulting partner. Iglehart died in

Lutherville, Maryland Lutherville is a census-designated place (CDP) in Baltimore County, Maryland, Baltimore County, Maryland, United States. As of the 2010 United States Census, 2010 census it had a population of 6,504. Prior to 2010 the area was part of the Lutherv ...

on November 16, 1979, just one day after his 88th birthday.

References

External links

Wharton, George. "Great Lakes Fleet Page Vessel Feature - J. A. W. Iglehart,"
Boatnerd.com.
Kennedy, Mac. "BL and The Orioles: Shared Roots," ''Laker Legacy'', Spring 2007: 20.
– The Boys' Latin School of Maryland alumni magazine.

Bibliography

* Miller, James Edward. ''The Baseball Business''. Chapel Hill, NC: The University of North Carolina Press, 1990. * Smith, Sally Bedell. ''In All His Glory: The Life & Times of William S. Paley''. New York: Simon & Schuster, 1990. * New York Yankees Official 1973 Yearbook. {{DEFAULTSORT:Iglehart, Joe Baltimore Orioles owners Businesspeople from Baltimore Cornell University alumni 1891 births 1979 deaths American stockbrokers 20th-century American businesspeople