Junior Bridgeman reportedly buying 15% stake in Milwaukee Bucks

At some point, the circle is closing, with former Milwaukee Bucks point guard Junior Bridgeman reportedly close to buying a 15% stake in the team he played for for many of his NBA profession.

According to , the 70-year-old Bridgeman, whose number two jersey has been retired by the Bucks, I’ll receive a privileged discount for the limited partner, which entitles him to a 15% share in the organization.

According to , Bridgeman currently owns Jet and Ebony magazines. The agreement states that the Milwaukee Bucks, a small NBA franchise, are value $4 billion. According to their sources, the NBA was alleged to notify the owners of the sale in a memo on September 12.

Bridgeman has built a net value of over $600 million largely through success in various businesses, including fast-food restaurants and running a Coca-Cola bottling distributor. Neither the Milwaukee Bucks nor Bridgeman himself have commented on the sale.

Although the team finished third in the Eastern Conference last season, they suffered a loss because that they had to make use of the luxurious tax and pay $52 million. According to , that quantity is NBA’s fourth-highest luxury tax.

The Bucks are expected to face similar luxury tax challenges in the 2024-2025 NBA season, with Giannis Antetokounmpo, Damian Lillard, and Khris Middleton set to make $48 million, $45 million, and $31 million, respectively. The team’s last ownership change got here in April 2023, when Cleveland Browns owners Jimmy and Dee Haslam bought a 25% stake from former co-owner Marc Lasry. At the time, before the NBA’s recent television deal, the Bucks were valued at $3.2 billion.