Former Milwaukee Bucks player Junior Bridgeman is set to purchase a 10% stake in the team, as reported by CNBC’s Michael Ozanian and Jessica Golden. The deal values the franchise at $4 billion, with Bridgeman receiving a 15% preferred limited partner discount, putting the valuation at $3.4 billion.
Bridgeman’s connection to the Bucks goes back to 1975 when he was acquired in a trade involving Kareem Abdul-Jabbar. He spent nine seasons with the team, earning accolades such as Sixth Man of the Year (if the award existed at the time). After a brief stint with the Los Angeles Clippers, he returned to Milwaukee for his final season before retiring with 711 games played for the franchise.
Aside from his basketball career, Bridgeman has found success in the business world, owning Ebony and Jet magazines and amassing a net worth of nearly $600 million. His ventures include fast-food chains like Wendy’s and Chili’s, as well as a Coca-Cola bottling distribution business.
Last year, Marc Lasry sold his 25% stake in the Bucks to the Haslam family for approximately $3.2 billion, highlighting the increasing value of NBA franchises.