Former NBA player and businessman Ulysses Lee "Junior" Bridgeman is purchasing a 10% stake in the Milwaukee Bucks, valuing the team at $4 billion. Bridgeman reportedly receives a 15% preferred limited partner discount, purchasing his portion at a valuation of over $3 billion. Bridgeman currently owns Ebony and Jet magazines and has a net worth of over $600 million. The deal comes after the NBA’s recent media agreement with Disney, NBCUniversal, and Amazon.
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00:00It's Benzinga, and here's what's on the block.
00:03Former NBA player and businessman Ulysses Lee Jr. Bridgman is purchasing a 10 percent
00:08stake in the Milwaukee Bucks, valuing the team at $4 billion.
00:12Bridgman is reportedly receiving a 15 percent preferred limited partner discount, purchasing
00:17his portion at a valuation of over $3 billion.
00:20Bridgman currently owns Ebony and Jet magazines with over $600 million net worth.
00:25The deal comes after the NBA's recent media agreement with Disney, NBCUniversal, and Amazon.
00:30For all things money, visit Benzinga.com.