NBA notable from 1970s reportedly buying stake in Milwaukee Bucks

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 $340M for his position in the team.

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-foot-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 $3M in salaries during his playing career and has been extremely successful as a businessman, with a net worth of nearly $600M.

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.