SEPTEMBER 26: Bridgeman has officially become a part-owner of the Bucks, the team confirmed in a press release (Twitter link via Eric Nehm of The Athletic).
“I’m overjoyed to return to the Bucks, where I spent the heart of my NBA playing career, to join their world-class ownership group,” Bridgeman said. “… I hope that my life journey serves as an aspiration to current and future players who dream of joining an NBA ownership group. I look forward to cheering the Bucks on this season alongside our great fans.”
SEPTEMBER 12: Junior Bridgeman, who played 12 NBA seasons from 1975-87, including 10 in Milwaukee, is purchasing a 10% stake in the Bucks, three sources familiar with the deal tell Michael Ozanian and Jessica Golden of CNBC.
According to CNBC’s report, the transaction values the Bucks at $4 billion but Bridgeman is receiving a “preferred limited partner discount” of 15%, or a $3.4 billion valuation. That means Bridgeman will pay approximately $340MM for his minority share.
Bridgeman, who turns 71 years old next week, starred in college at Louisville prior to being selected No. 8 overall in the 1975 draft. The 6’5″ wing averaged 13.6 points, 3.5 rebounds and 2.4 assists while shooting 47.5% from the floor and 84.6% from the line in 849 regular season games with the Bucks and Clippers (25.0 minutes per contest).
In late July, Baxter Holmes of ESPN wrote a feature story on Bridgeman and how he has built his wealth over the years. Bridgeman earned a total of just under $3MM in salaries during his playing career and has been extremely successful as a businessman, with a net worth of nearly $600MM.
As Ozanian and Golden observe, when the Haslam Sports Group purchased its 25% stake in the Bucks in April 2023, the team was valued at $3.2 billion. This new deal — which is the first time a portion of a team has been sold since the media rights agreements were announced — shows the franchise continues to increase in value.
Bridgeman was rumored to be interested in buying a stake in the Bucks back in 2014. His No. 2 jersey was retired by the Bucks in 1988.
The baconator prices bought to go up…
Mr. Wendys !!
Minority interests in sports franchises aren’t great assets, at least from an economic perspective. It’s hard to believe that anyone would buy one without some kind of a discount. But the devil is in the detail. 10% is a large interest, maybe he’s getting some rights, other than the right to participate in MIL’s operating losses over the next few seasons.
lol, they are great investments. Guaranteed to appreciate in value, and it requires zero work. Tell me you don’t understand basic economics without telling me you don’t understand basic economics…
No, feeble minded one. But with your obviously low IQ, things like asset/ investment valuation will never be something your able to understand. Take my advice, STOP trying. You’ll hurt yourself.
I’ll make it simple for you Highway menace. Investing is all about cash flow. That’s all you need to know.
Anyone who buys into a sports franchise is already rich and looking to park his money somewhere that will grow over time but unfortunately has zero cash flow. He doesn’t need cash flow.., he’s already wealthy. He’s Mark Cuban, he’s Michael Jordan, he’s Junior Bridgman. They are already rich and don’t want 5% of the bank or the volatility of the stock market.
If you read the article, you would see that he is in fact getting a discount. “Bridgeman is receiving a “preferred limited partner discount” of 15%, or a $3.4 billion valuation.”
On top of that he has been heavily involved with the Bucks, spending almost his entire career there. He is pretty old and it might just be fun for him to be a part-owner. Same with the old Padres owner, he actually enjoys the team and doesn’t care as much about profits. Valuations just keep going up so there isn’t as much risk as some other industries.
I did see it, and that’s why I wrote what I did. A discount from top line value should be expected, not mentioned like its a gift.
Good to see an OG. Investing on what he helped build
A real success story
Quite impressive.
Guy actually invested his money well and saved it. gets rewarded. It’ll be a nice seat,the upper box suite area.steak potatoes and wine to eat. while he looks down and watches me. Devour a chilly, chili cheese, hot dog and then sprint to the bathroom.
Love it, but I’m ahead of you in line at the bathroom because my seat was right next to it LOL !! At least your seat was down closer to the floor.