Junior Bridgeman returns to the Bucks as ‘significant minority’ owner

Ulysses “Junior” Bridgeman has joined the ownership group of the Milwaukee Bucks, the team officially announced Thursday, confirming recent reports by national outlets.

Bridgeman, an East Chicago, Indiana-native who spent 10 seasons as a player with the Bucks in the 1970s and ’80s, is now a “significant minority” owner of the team, according to a news release. He joins Bucks majority owners Wes Edens, Jamie Dinan, Mike Fascitelli, and Dee and Jimmy Haslam, the owners of the Cleveland Browns who purchased their Bucks ownership share in 2023 from Marc Lasry.

After an NBA career marked by 711 games played and eight postseason appearances with the Bucks, Bridgeman went on to excel in the business world. He began investing in restaurants and eventually became the owner and CEO of Bridgeman Foods, which operated more than 450 Wendy’s and Chili’s restaurants in 20 states until 2016. In 2017, Bridgeman Foods acquired Lenexa, Kansas-based Heartland Coca-Cola Bottling Company LLC, making Bridgeman an independent bottler for Coca-Cola. The Bucks and Bridgeman Foods have been partners for more than 25 years and together created the “Bucks Win You Win” offer for a free Wendy’s frosty following a Bucks victory.

Bridgeman is also the current owner of Ebony and Jet magazines, both of which he purchased out of bankruptcy in 2020. He has served on the boards of at least 15 organizations, including the PGA of America, Churchill Downs, Meijer Inc. and his alma mater, the University of Louisville.

“It is a momentous occasion for our organization and the city of Milwaukee to welcome Junior Bridgeman to the Bucks’ ownership group,” said Edens, the Haslams, Dinan and Fascitelli in a statement. “Junior’s retired no. 2 jersey hangs in Fiserv Forum with other Bucks legends, a constant reminder of Junior’s impact on the Bucks’ great history. After his playing career, Junior became one of our country’s most successful business leaders and his story of hard work and perseverance serves as an inspiration to our players and athletes everywhere. We are proud that Junior’s professional life has come full circle as he returns to the Bucks family.”

CNBC initially reported Bridgeman was buying a 10% stake in the Milwaukee Bucks, a transaction that would value the team at $4 billion.

The Bucks did not disclose Bridgeman’s ownership stake, but Jimmy Haslam during Thursday’s press conference explained how the deal came to fruition: “About a year ago, there were some owners that had small percentages — half percent, 1% — that wanted to tender their stock, so the (Bucks franchise) bought them in and resold those to Junior.”

“I’m overjoyed to return to the Bucks, where I spent the heart of my NBA playing career, to join their world-class ownership group,” Bridgeman said in a statement. “I want to thank Dee and Jimmy, Wes, Jamie and Mike for their friendship and support in welcoming me back to Milwaukee. I hope that my life journey serves as an inspiration to current and future players who dream of joining an NBA ownership group. I look forward to cheering the Bucks on this season alongside our great fans.”