LOUISVILLE, Ky. — A former University of Louisville basketball star will soon be a part-owner of an NBA franchise.
Ulysses Lee "Junior" Bridgeman is purchasing a 10% stake in the Milwaukee Bucks, according to a report from CNBC citing three sources familiar with the deal. Bridgeman played for the Bucks from 1975-1984, and again in the 1986-87 season.
His No. 2 was retired by the franchise.
According to CNBC, the transaction will value the Bucks at $4 billion. Bridgeman, owner of Ebony and Jet magazines, will receive a preferred limited partner discount of $15%, or a $3.4 billion valuation.
His net worth is a reported $600 million despite never earning more than $350,000 a year as a player. Bridgeman found success in many areas of business, including fast food chains and Coca-Cola bottling and distributing.
The deal shows the Bucks are continuing to grow. The franchise was valued at $3.2 billion when Jimmy Haslem bought an ownership stake in April 2023.
The team will likely pay a steep luxury tax this season. Giannis Antetokounmpo, Damian Lillard and Khris Middleton will make a combined $124 million in 2024-25.
The Bucks won NBA championships in 1971 and 2021.
Bridgeman played at Louisville from 1972-1975 for legendary coach Denny Crum. Bridgeman led the Cardinals to the Final Four his senior year.
He averaged 15.5 points, 7.6 rebounds and 2.7 assists in 87 games. He was named Missouri Valley Conference player of the year in 1974 and 1975.
He averaged 13.6 points a game in 12 NBA seasons.
