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.
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
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.
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.
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