[7] The pair publicly denied that they had purchased a second club, but did acknowledge that Taft was the owner of Philadelphia's National League Park.

[11] Taft sold the Cubs to Charles Weeghman, with some financial backing from William Wrigley Jr., after the 1915 season.

Taft died on December 31, 1929, in Cincinnati, Ohio,[13] where he was buried at Spring Grove Cemetery.

[17] He was also the grandfather of Anne Taft Ingalls, who married Rupert E. L. Warburton, "a scion of one of England's oldest families," in 1929.

[18] His nephew, Charles Phelps Taft II who served as Mayor of Cincinnati, Ohio from 1955 to 1957 was named after him.

Following his death, Annie (Anna) Sinton Taft donated $5 million to the University of Cincinnati in 1930 and established a memorial fund after his name.

[19] This fund was transformed in 2005 into the Charles Phelps Taft Research Center at the University of Cincinnati.

[13] He owned at least two works each of Jean-Baptiste-Camille Corot, Jean-François Millet and Ernest Meissonier, many pieces of fine Chinese porcelain, Portrait of a Man Rising from His Chair by Rembrandt, The Tompkinson Boys by Thomas Gainsborough, and The Cobbler's Apprentice by Frank Duveneck, as well as paintings by Anthony van Dyck, Frans Hals, Jan Steen, Meindert Hobbema, Francisco Goya, Joshua Reynolds and Rousseau.