Saturday, November 23, 2024

Milwaukee Bucks news: Former player intends to buy huge stake in franchise in 2024

Even the most die-hard Milwaukee Bucks fan would have a rigid time arguing against the idea that the Bucks are a small-market team.

While they have a superstar duo in Giannis Antetokounmpo and Damian Lillard, the organization understands that this is not the most significant destination for NBA players. That’s why they need to make the most of their time with their stars if they want to significantly challenge for an NBA title in the coming seasons.

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Giannis Antetokounmpo and Damian Lillard of the Milwaukee Bucks stand next to each other during an NBA game. Source: Geoff Burke – USA TODAY Sports

Money plays a huge role in making NBA franchises more profitable. The salary cap could limit what the team can bring to the table, and the additional finances could make the Bucks a more attractive destination for players.

The Bucks are about to get an influx of support as one of their former players wants a stake in the team and boost the overall value of the franchise.

Junior Bridgeman intends to buy 10% of shares in Milwaukee Bucks

Milwaukee Bucks junior bridgeman
Ulysses “Junior” Bridgeman attends day two of the 2023 Invest Fest at the Georgia World Congress Center on August 27, 2023 in Atlanta, Georgia. Source: Paras Griffin | Getty Images

Junior Bridgeman, a former NBA player who became a successful businessman after retiring, intends to buy a minority share of the franchise.

For CNBC’s Michael Ozanian: :

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

Bridgeman, the current owner of Ebony and Jet magazines, will receive a preferred discount of 15%, or $3.4 billion, to buy part of the team he played for from 1975 to 1984, sources said.

According to reports, he has approx net worth exceeding $600 million after finding success in businesses ranging from a brisk food chain to being a Coca-Cola bottling distributor.

Bridgeman joined the Bucks as the eighth overall pick in the 1975 draft and became the team’s reliable scorer. Swingman averaged 13.9 PPG, 3.7 RPG and 2.5 APG during his 10 seasons with the team.

Milwaukee Bucks junior bridgeman
Former Milwaukee Bucks player Junior Bridgeman speaks to the media before the NBA basketball game between the Milwaukee Bucks and the Brooklyn Nets on March 1, 2014 in Milwaukee. (AP Photo/Jeffrey Phelps)

If the deal goes through, the Bucks will have the backing of a businessman who deeply understands Milwaukee basketball and wants to see it succeed. He is passionate about the Bucks project and will be willing to invest time and money to see his former team achieve finals success once again.

More Wisconsin sports:

Follow me on Twitter at @mcquadewarnoldfollow us @WiSportsHeroics. You can also contact McQuade Arnold by email at [email protected]. To read more of our articles and keep up to date with news from ALL Wisconsin sports, click here! Green Bay Packers, Milwaukee Brewers, Milwaukee Bucks, Wisconsin Badgers. Go pack. On Wisconsin. Be afraid of the deer. This is my crew.

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