Milwaukee Bucks welcome former player Junior Bridgeman as minority owner

The practice field at the Wisconsin Sports Science Center's Froedtert & Medical College was filled with Milwaukee Bucks employees from all areas of the organization Thursday morning, but Junior Bridgeman had a specific cohort in mind when asked why he wanted to become a significant minority owner of the teams.

Bridgeman sat on a stage next to Bucks co-owner Jimmy Haslam and also a framed replica of Bridgeman's retired No. 2 jersey from his ten seasons with the Bucks from 1975 to 1984 and 1986 to 1987. Bridgeman nodded to the group of current Bucks- players to his left, which also included Khris Middleton and Damian Lillard.

“The opportunity to get back into the team in a different way and take advantage of it was kind of a dream,” Bridgeman said. “And I think a lot of players have the same dream and want to make it come true.”

“There are a lot of smart basketball people. But I would like, if I could, to be able to help the guys in life and in business at some point. Because I had the same help when I was a player and it came from Jim Fitzgerald who owned the team and I have given him credit several times over the years for helping me understand the business and to really get to where I am. “

Jimmy Haslam is pleased with Junior Bridgeman's business acumen

Bridgeman's new investment in Bucks was reported by CNBC two weeks ago. Thursday's announcement was welcomed by Haslam, who bought a 25% stake in the team with his wife Dee last year.

“I don’t think you can exaggerate today,” Haslam said. “This is a spectacular basketball player, businessman and human being who will now become a key owner of the Milwaukee Bucks.”

Bridgeman was a standout player for the Bucks after coming to Milwaukee in 1975 as part of the trade that sent Kareem Abdul-Jabbar to the Los Angeles Lakers. Bridgeman played 711 games for the Bucks, the third most in franchise history.

Off the field, Bridgeman enjoyed even greater success, operating more than 450 Wendy's and Chili's restaurants. His company, Bridgeman Foods, is an independent bottler for Coca-Cola. ESPN estimated Bridgeman's net worth at over $600 million.

That's what excited Haslam, whose business success came with the Pilot Flying J rest stop chain. Haslam Sports Group also owns the NFL's Cleveland Browns.

“In our previous life with Pilot Flying J, we were also a large Wendy’s franchisee,” Haslam said. “We had about a hundred, which is a pretty good number. And he had (that) about five or six times.

“So I always pushed our guys: How can we catch Junior Bridgeman? Group?' And he said, “Yeah, one of my best friends is one of the owners.”

“Junior came over and watched one of the practices with the Browns and had lunch. I think we went to a game together in Charlotte. We’ve spent a lot of time together since then.”

Who did Junior Bridgeman buy his shares from?

The Haslams are co-owners of the Bucks along with Wes Edens, Jamie Dinan and Mike Fascitelli.

CNBC reported that Bridgeman is buying a 10% stake in the team.

“About a year ago, there were some owners with small shares – half a percentage, 1% – who wanted to offer their shares,” Haslam said. “So the company bought them and resold them to Junior.”

Bridgeman previously spoke with Herb Kohl about the purchasing team

Bridgeman said he spoke with former owner Herb Kohl about buying the Bucks before Kohl sold to the group led by Edens and Marc Lasry.

“It just didn’t feel right at the time,” Bridgeman said. “Now the time has come. Not just because of Jimmy, Wes and Jamie.

“But it just feels right. Would I have liked to have been 20 years younger now? Yes…and be more involved. Sometimes you just have to live as life takes things.”

For years, Bridgeman has spoken to NBA players about his business success. Now he will direct his message to the Bucks players.

“I would also talk about the pitfalls,” Bridgeman said. “I think these are the things that are more important than the successes.

“You have to worry about that. You have to pay attention to this. And if you can help them in any way if they have questions like that in the future, I think that would be as helpful as anything you can say about playing basketball.”