Ulysses “Junior” Bridgeman now holds a stake in the league where he once played.
Bridgeman was drafted to the NBA in 1975 and selected by the Los Angeles Lakers as an eighth pick in the first round, Basketball Reference reports. Bridgeman continued his career in the league with nine seasons for the Milwaukee Bucks, followed by a two-year stint with the Los Angeles Clippers, before returning to the Bucks for his final season and retiring in 1987, Sports Illustrated mentions.
At his highest, he earned $350,000 in a single season, as AFROTECH™ previously reported. However, his fortune greatly increased beyond the NBA, amassing a reported $600 million. His business portfolio has included Wendy’s and Chili’s restaurant franchises, although he later sold his stakes in 2016 and soon after became a Coca-Cola distributor. The basketball veteran is also the owner of Ebony and Jet Magazine as of 2020. He purchased the publications for $14 million after they filed for bankruptcy.
In a full-circle moment, Bridgeman once again joins the Bucks, but this time through team ownership. He has reportedly purchased 10% stake in the team — which is valued at $4 billion — according to those aware of the deal, per CNBC.
“Bridgeman… is getting a preferred limited partner discount of 15%, or a $3.4 billion valuation, to buy a portion of the team that he played for from 1975 to 1984,” the sources said, according to the outlet.
