From CNBC: 2024-09-12 10:15:56

Former NBA player Ulysses “Junior” Bridgeman is purchasing a 10% stake in the Milwaukee Bucks for $4 billion. With a reported net worth of over $600 million, Bridgeman is making the investment at a $3.4 billion valuation due to a preferred limited partner discount of 15%.

The current owners of the Bucks, Jimmy and Dee Haslam, Wes Edens, and Jamie Dinan, each have about a 25% stake in the team. This sale represents the first NBA transaction since the league’s media agreement with Disney, Comcast’s NBCUniversal, and Amazon Prime.

Despite significant luxury tax payments, the Bucks, who finished third in the NBA Eastern Conference last season, are continuing to grow. They are set to pay hefty salaries to key players like Giannis Antetokounmpo, Damian Lillard, and Khris Middleton for the upcoming season. The team has previously won two NBA championships in 1971 and 2021.



Read more at CNBC: Junior Bridgeman buying stake in Milwaukee Bucks, team valued at $4 billion