Junior Bridgeman acquires stake in Milwaukee Bucks, valuing team at $4 billion | Wilnesh News

Businessman and former NBA player Ulysses Lee “Junior” Bridgeman is buying a 10% stake in the Milwaukee Bucks, according to three people familiar with the matter. The deal would value the team at $4 billion.

NBA owners will be notified of the sale in a memo on Thursday, the source added.

Sources say Bridgeman, the current owner of Ebony and Jet magazines, will receive a 15 percent preferred limited partner discount, valuing the franchise at $3.4 billion, to buy the club he played for from 1975 to 1984. part of the team.

It is reported that he has a Net worth exceeds $600 million After finding success in businesses ranging from fast food chains to Coca-Cola bottling distributors.

Bridgeman and the Bucks did not immediately respond for comment.

The Milwaukee Bucks are owned by Jimmy Haslam, Dee Haslam, Wes Edens and Jamie Dinan. The three ownership groups each hold about 25% of the team.

This would mark the first NBA sale since the league signed an 11-year media agreement with the NBA disney, ComcastNBCUniversal and Amazon Popular in July.

This deal shows that the Bucks are continuing to grow as a small-market team. When Milwaukee Bucks owner Marc Lasry sold 25% of the team to the Haslam family last April, the team was valued at about $3.2 billion.

The team, which finished third in the NBA’s Eastern Conference last season, is losing money as it has reportedly paid The luxury tax last season was $52 million. The Bucks will likely pay a hefty luxury tax this season, as they are paying Giannis Antetokounmpo, Damian Lillard and Khris Middleton $48 million, $45 million in the 2024-2025 season. million and US$31 million.

The Bucks won the NBA championship twice, in 1971 and 2021.

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