Former NBA Player Ulysses “Junior” Bridgeman Buys 10% Stake in Milwaukee Bucks for $4 Billion

Ulysses “Junior” Bridgeman, a successful businessman and former NBA player, is set to acquire a 10% stake in the Milwaukee Bucks. This deal, valued at $4 billion, highlights the continued growth of the team. Bridgeman, who currently owns Ebony and Jet magazines, will receive a preferred limited partner discount of 15%, resulting in a $3.4 billion valuation for his portion of the team.

Bridgeman’s net worth is estimated to be over $600 million, thanks to his success in various ventures, including fast-food chains and a Coca-Cola bottling distribution business. His acquisition of a stake in the Bucks not only showcases his continued entrepreneurial spirit but also his connection to the team. Bridgeman played for the Bucks from 1975 to 1984, further solidifying his ties to the franchise.

The sale of the stake in the Bucks will be communicated to NBA owners through a memo on Thursday. While the deal is not yet public, three sources familiar with the matter have confirmed its details. It’s worth noting that the current owners of the Bucks, Jimmy and Dee Haslam, Wes Edens, and Jamie Dinan, each hold a 25% stake in the team.

This transaction will be the first NBA sale since the league signed a media agreement with Disney, Comcast’s NBCUniversal, and Amazon Prime earlier this year. The agreement, spanning 11 years, reflects the growing interest in the NBA and its potential for increased revenue through media rights.

Despite the team’s success on the court, the Bucks have faced financial challenges. Last season, they incurred a reported $52 million luxury tax payment. This season, they are expected to pay a hefty luxury tax as well, with significant salaries allocated to star players such as Giannis Antetokounmpo, Damian Lillard, and Khris Middleton.

The acquisition of a stake in the Bucks by Bridgeman not only highlights his business acumen but also signifies the team’s potential for further growth. As a small-market team, the Bucks’ increasing value is a testament to their success and appeal. With two NBA championships under their belt, in 1971 and 2021, the Bucks have solidified their place in the league’s history.

In conclusion, Ulysses “Junior” Bridgeman’s purchase of a 10% stake in the Milwaukee Bucks for $4 billion showcases his entrepreneurial success and connection to the team. This acquisition comes as the team continues to grow and navigate financial challenges. The deal also marks the first NBA sale since the league’s media agreement, emphasizing the increasing value and interest in the NBA.