The transaction will value the team at around $4 billion
It may still be the offseason, but we have ownership news this morning, as it’s being reported that Milwaukee Buck legend Junior Bridgeman is reportedly set to buy a 10% stake in the team:
Junior Bridgeman buying stake in Milwaukee Bucks in a deal that values team at $4 billion https://t.co/vZcuMSd4eS
— Mike Ozanian (@MikeOzanian) September 12, 2024
According to CNBC, the transaction will value the team at $4 billion. When Marc Lasry sold his 25% stake to Jimmy Haslam last April, the Bucks’ value was measured around $3.2 billion. These factors prove that the Bucks continue to grow as a franchise. That’s noteworthy given the fact that the team will likely be paying another luxury tax this season after paying $52 million last year.
Of course, Bridgeman is a Bucks legend and has his No. 2 hanging from the Fiserv Forum rafters. He played in Milwaukee from 1975 to 1984.
Bridgeman is also the prime example of making a successful living outside the NBA following retirement. His business ventures have provided him a net worth of over $600 million, with his fingerprints on businesses varying from fast food chains such as Wendy’s to Coca-Cola bottling distribution. He also owns Ebony and Jet magazines.
Per CNBC, his stake shakes out as a preferred limited partner discount of 15% ($3.4 billion valuation).
Last, according to the Kentucky Entrepreneur Hall of Fame, Bridgeman’s company owns and operates over 160 Wendy’s franchises. That makes me wonder two things:
- Has he seen my Frosty article?
- That Bucks Win, You Win promo isn’t going anywhere.