William DeWitt Jr.

William Orville DeWitt Jr. (born August 31, 1941) is an American businessman who is currently the managing partner and chairman of the St. Louis Cardinals, a professional baseball franchise which competes in Major League Baseball (MLB).

On August 19, 1951, the little person Eddie Gaedel served as a pinch hitter at a Browns game, wearing DeWitt's jersey to the plate.

He earned a bachelor's degree from Yale University in economics in 1963 and an M.B.A. from Harvard University in 1965.

DeWitt was part of an investment group led by Francis L. Dale that purchased the Cincinnati Reds for $8 million from his father, Bill Sr., on December 5, 1966.

DeWitt joined Cincinnati investment firm Gradison & Co.

in 1974.

In 1979, along with Mercer Reynolds, he founded the investment firm Reynolds, DeWitt & Co. The firm owns 63 Arby's franchises, whose value has been estimated at $50.4 million and is an investor in Cincinnati-based U.S. Playing Card Company, with an estimated value of about $120 million.

It also holds a $40 million stake in Newport Aquarium in Newport, Kentucky.

DeWitt was part owner of the Riverfront Coliseum in Cincinnati on December 3, 1979, when 11 people were killed prior to a concert by The Who.

In 1984, one of DeWitt's business ventures, the oil company Spectrum 7, bought George W. Bush's Arbusto Energy, which, in turn, merged with Harken Energy in 1986.

When Eddie Chiles prepared to sell the Texas Rangers baseball franchise in 1989, DeWitt and Bush gathered investors to buy the team.

DeWitt has also held shares in the National Football League's Cincinnati Bengals and the former Cincinnati Stingers of the World Hockey Association.

In 1995, DeWitt and Stephen F. Brauer purchased the St. Louis Cardinals from Anheuser-Busch for $150 million.

He oversees all league, financial, operational and baseball affairs for the club.

In 1997, DeWitt established Cardinals Care, a nonprofit organization that builds baseball fields, helps youth baseball programs, and awards grants to children's boards.

In 1998, DeWitt purchased the Palm Beach Cardinals of the Florida State League (minor league A-ball) and, in 2005, the Springfield Cardinals of the Texas League (AA).

Since 2004, the organization has run Redbird Rookies, a network of 20 leagues for nearly 4,500 children around Greater St. Louis and in rural sections of Missouri and Illinois.

who would not otherwise have the opportunity.

It provides equipment and other necessities to the players, training for coaches and organizers, and workshops for parents.

The Cardinals have purchased three of their minor league affiliates since the DeWitt group took over.

The Cardinals have won two World Series — in 2006 and 2011 — during DeWitt's time as owner.

In addition to the Cardinals, DeWitt has also owned or invested in the Cincinnati Stingers hockey club, Baltimore Orioles, the Cincinnati Reds and the Texas Rangers.

Business interests outside baseball include Reynolds, DeWitt & Co., which owns Arby's franchises and invests in the U.S. Playing Card Company and the petroleum company Spectrum 7.

DeWitt, the son of longtime Major League Baseball executive Bill DeWitt and Margaret H. DeWitt, was born in St. Louis, Missouri, where he attended St. Louis Country Day School.

He was around baseball constantly as a child; his father owned the St. Louis Browns and Cincinnati Reds, and DeWitt served as a Browns batboy.

Since DeWitt bought the team, the Cardinals have won two World Series (2006 and 2011), four National League pennants, 11 division titles, and have made 15 total playoff appearances.

In 2006, the Cardinals moved from their old home, Busch Memorial Stadium, to Busch Stadium in 2006.

The $365 million stadium is one of the few majority-privately funded MLB stadiums, along with the San Francisco Giants' Oracle Park and the Los Angeles Dodgers' Dodger Stadium.

DeWitt is also involved with DeWitt Capital Group, a private equity firm registered in 2012.

DeWitt has been part owner of the Cincinnati Reds and the Baltimore Orioles.

The Cardinals are one of the largest privately held firms in St. Louis, bringing in an estimated $233 million in revenue in 2012.

As of 2013, the organization has built 18 baseball fields in the Greater St. Louis area.

As of April 2013, the team had negotiated to purchase the Memphis Redbirds of the Pacific Coast League (AAA) from the Memphis Redbirds Foundation (MRF), a local non-profit entity.

However, talks went on hold due to defaulted bonds on the building of AutoZone Park.

On November 16, 2013, the Cardinals announced a resolution to purchase the team while the city purchased the stadium.

The Cardinals agreed to lease the stadium from the city while Memphis will upgrade the park.

In 2013, Forbes listed the Redbirds as one of the ten most valuable minor league franchises.

To expand the Cardinals' international presence, DeWitt opened baseball academies in the Dominican Republic and placed representatives in six foreign countries.

Forbes estimated that the team was worth $1.4 billion in 2014 and $2.1 billion in July 2019.

Through January 2017, Cardinals Care had distributed some $900,000 a year.