Businessman and former NBAer Junior Bridgeman is buying a 10% stake in the Bucks in a deal that “will value the team at $4 billion,” according to sources cited by Ozanian & Golden of CNBC.com. The sources said that Bridgeman, the owner of Ebony and Jet magazines, is getting a “preferred limited partner discount of 15%, or a $3.4 billion valuation,” to buy a portion of the team. He played 10 of his 12 seasons in the NBA with the Bucks. The deal shows the Bucks “are continuing to grow” in value. The franchise was valued at around $3.2B when former team co-owner Marc Lasry sold his 25% stake to Jimmy and Dee Haslam last April (CNBC.com, 9/12). BLOOMBERG NEWS’ Randall Williams noted the deal is the first since the NBA completed its new $76B media deal. It could “give an idea as to how much the NBA will charge for an expansion franchise” (BLOOMBERG NEWS, 9/12).
Report: Junior Bridgeman to buy stake in Bucks that values team at $4B
