Former Milwaukee Bucks forward/guard Junior Bridgeman is purchasing a 10% ownership stake in the NBA franchise, as reported by CNBC’s Michael Ozanian and Jessica Golden.
Former Milwaukee Bucks star Junior Bridgeman is receiving a preferred limited partner discount of 15%
NBA owners will be informed of the sale in a memo on Thursday, according to sources. The full details have not been made public yet and sources prefer to remain anonymous.
Bridgeman, who currently owns Ebony and Jet magazines, will receive a preferred limited partner discount of 15%, which amounts to a $3.4 billion valuation for the portion of the team he is buying. The total deal values the Bucks at $4 billion.
NBA’s richest players looks like this:
▪️ MJ
▪️ Magic
▪️ Lebron
▪️ Junior BridgemanMany of you don’t know the 4th name, he averaged 13 ppg and was never an All-Star…
He now has a net worth of $600M and is the Bucks newest owner
This is the story of Junior Bridgeman ⬇️ pic.twitter.com/Btm6nA4xSy
— Frank Michael Smith (@frankmikesmith) September 12, 2024
In April 2023, Marc Lasry sold his 25% stake in the Bucks to the Haslam family, valuing the team at approximately $3.2 billion. Bridgeman’s discount illustrates the difference in value of $800,000.
According to ESPN’s Baxter Holmes, Bridgeman, a native of East Chicago, has a net worth of nearly $600 million. His other business ventures include Wendy’s and Chili’s restaurants, as well as Heartland Coca-Cola.
In 2016, Forbes ranked Bridgeman as the fourth-wealthiest retired athlete globally, with an estimated income of $32 million, behind only Michael Jordan, David Beckham, and Arnold Palmer.
Bridgeman played 10 NBA seasons with Milwaukee from 1975 to 1984 and returned for one last campaign in 1986-87
Starting and ending his NBA career with the Bucks, Bridgeman, turning 71 on Sept. 17, played a total of 12 seasons in the league, with 10 seasons from 1975 to 1984 and the 1986-87 season in Milwaukee.
Selected eighth overall by the Los Angeles Lakers in the 1975 draft out of Louisville, Bridgeman was then traded to Milwaukee as part of the Kareem Abdul-Jabbar trade.
In 849 career NBA regular-season games (52 starts), Bridgeman averaged 13.6 points, 3.5 rebounds, 2.4 assists, and 25 minutes per contest. He also had shooting percentages of 47.5% from the field and 84.6% from the free-throw line.
After nine consecutive seasons with the Bucks, he was traded to the Los Angeles Clippers in 1984 before returning to Milwaukee for his final season in 1986-87. Upon retirement, Bridgeman had played 711 games for the franchise.
This record stood until Giannis Antetokounmpo surpassed it in 2023, with Bridgeman now ranking third in all-time games played for the Bucks behind Khris Middleton’s 712 games.
Bridgeman’s No. 2 jersey was retired by the Bucks in 1988.
