Report: Junior Bridgeman approached in search for investors for new Bucks ownership group

The Bucks will give away Junior Bridgeman bobbleheads Saturday (Photo credit: Twitter/@Bucks)
Coincidentallly, the Bucks will give away Junior Bridgeman bobbleheads Saturday. It’s one of the rare figurines with a passing likeness, probably because of the mustache. (Photo credit: Twitter/@Bucks)

According to a report in the Milwaukee Journal Sentinel by Don Walker, former Buck Junior Bridgeman has been approached as a potential investor in the the team.

A source with knowledge of Herb Kohl’s efforts to bring in new investors to the Milwaukee Bucks as a way of keeping the team in Milwaukee, said Bridgeman, one of the wealthiest African-Americans in the country, has been approached about investing in the team, and he expressed interest.

In December, Kohl announced he would attempt to broaden the ownership base with an eye toward keeping the team in Milwaukee, and that he would retain Steve Greenberg as his advisor during his search. Greenberg is the managing director of Allen & Company.

Bridgeman owns hundreds of fast-food franchises and was listed 18th on Forbes’ “Richest African Americans” list for 2012. He’s also been at least somewhat active in conversations about bringing the NBA to his hometown of Louisville, Kentucky, though it seems like the conversations were more evaluation of possibilities and haven’t really been reported on since 2012.

About 20 people gathered at the first meeting to determine whether Louisville had the “level of interest” and “conditions necessary to attract a team,” Fischer said in a statement.

Back in 2008, Bridgeman’s name also came up in ownership discussions, but it wasn’t clear at that time if the team, or any portion of it, was up for sale.

“I would not want to be the main person. You’d like to add whatever insights you have into the game and that would be how I see being involved.”

But there again, when (Kohl) is ready I think he will talk to me. My sense is that you don’t push him. It’s not anything that he wants public, to happen. When he thinks the time is right, with the right group, I think he’ll do something. For the last 20-some years, he has carried the load for the franchise. Just because of that, it deserves to happen on his time frame.”

According to a January 2014 valuation by Forbes, the team is worth approximately $405 million and recently became profitable for the first time in a number of years under the revenue sharing of the NBA’s new collective bargain agreement. Herb Kohl bought the Bucks for $19 million in 1985.

Categories: Ownership

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3 Comments

  1. This is intriguing to me as Junior Bridgeman is one of my all-time favorite Bucks. I remember at about age 12 when he came over as part of the return from the Kareem Abdul-Jabbar trade, along with Brian Winters and Len Elmore and maybe a draft pick or two (actually, my memory can be somewhat faulty). He was with the Bucks as they went from doormat to one of the best teams in the NBA, including a couple of 60-win seasons (just not quite good enough to get past both the Larry Bird-Celtics and the Dr. J-76ers in any given post-season).
    I remember Junior as a silky-smooth sixth-man, and really liking the overall way he played for a really likeable and accomplished Bucks’ team. It’s good to hear about the athletes who make it big after their sports careers. Also, maybe he could teach Khris and others a few of his tricks of the trade for basketball, and some off-court tips for success, as well.
    Anyway, I don’t know much about Junior in general, but if he’s into the Bucks and Milwaukee, and if he’s half the person now as he was as a player back then, this could be a very good thing. If the Bucks are profitable in the team’s current dismal state, what might happen if they actually became good.

  2. Good investment for H.Kohl, a $300 million dollar profit when he sells.

    I’m overly optimistic about team remaining in Milwaukee, with the reports of franchise now turning profit! That is WONDERFUL NEWS…really can help stabilize the long term outlook.

    Finally-I feel that there is some interest in the BUCKS moving forward. For all the mistakes and poor trades and contracts,the cap situation is satisfactory,the draft situation is promising,the talent level is decent-albeit RAW.
    Light at the end of the tunnel….I can see it.
    2014/15 should be an awesome season of competitive basketball…(Jennings who? Ellis who?Redick?Dunleavy?)

    We are gonna be just fine!!

    GO BUCKS GO

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