Junior Bridgeman Invests in Milwaukee Bucks, Valued at $4 Billion
Former NBA player and businessman Ulysses Lee “Junior” Bridgeman is acquiring a 10% stake in the Milwaukee Bucks, in a deal that values the team at $4 billion. Bridgeman, who currently owns Ebony and Jet magazines, is receiving a preferred limited partner discount of 15% to purchase a share of the team that he played for from 1975 to 1984. With a reported net worth exceeding $600 million, Bridgeman has found success in various business ventures, including fast-food chains and Coca-Cola distribution.
The Milwaukee Bucks are currently owned by Jimmy and Dee Haslam, Wes Edens, and Jamie Dinan, each holding approximately a 25% stake in the team. This transaction marks the first NBA sale since the league secured an 11-year media agreement. The Bucks, a small-market team, continue to show growth as evidenced by the increase in valuation. Despite incurring losses due to a substantial luxury tax payment in the previous season, the team remains competitive with star players like Giannis Antetokounmpo, Damian Lillard, and Khris Middleton under contract for the upcoming season. The Bucks have previously won two NBA championships, in 1971 and 2021.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.