Mar 4, 2014, 2:11 PM EDT
We’ve told you before that current Milwaukee Bucks owner Herb Kohl is looking for more investors to come in, to help keep the team in Milwaukee. It’s a few years out until their lease is up (2017) but a new arena is needed there, even Commissioner Adam Silver has said as much. That leaves other cities and people looking to buy a team and move it (yes, maybe Seattle) lurking in the wings).
Among the people Kohl reached out to is former Buck player and successful entrepreneur Junior Bridgeman.
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.
Kohl has retained Allen & Co., of New York, to locate potential investors. Bridgeman would seem to be an ideal candidate for the Bucks. He knows the game. He played in Milwaukee. And he is a successful businessman.
Bridgeman played a dozen years in the NBA and 10 of those were in Milwaukee. He still holds the record for most games played by anyone in a Bucks uniform (711).
After his playing days Bridgeman got into fast food franchising and now owns 160 Wendy’s, more than 100 Chili’s and an assortment of other restaurants. Forbes estimated his net worth at north of $200 million.
Bridgeman is currently a minority investor in the new Sacramento Kings ownership group, if he were to buy into the Bucks he’d have to sell that share. Not hard or a big deal, but a hurdle.
Kareem Abdul-Jabbar does not have any role with the Bucks — but he would like one. In some capacity, not necessarily just as an investor.
“If I get a call, I will definitely offer my services,” said Abdul-Jabbar, the franchise’s career leading scorer with 14,211 points. “There’s nothing on the table right now. A couple of people have asked me and if I had the chance to be part of this franchise again, I would take it….
“They have to get their business model right,” Abdul-Jabbar said Monday. “I hope that the Bucks are able to sort it all out and get on a good footing. You can’t win it all unless you get the right players and you can’t get the right players unless you’re really in a good position as a business.”
We’ll see if that call comes for Kareem. His years of being aloof and unresponsive to fans and people around the league have kept him out of coaching jobs and more — people don’t go out of their way to help people who are not nice to them. But maybe the Bucks — the franchise he carried to its one and only title — would be a place to get his foot back in the door.
- Jahlil Okafor: “Rookie of the Year is one of the goals I set for myself” 13
- Report: Derrick Rose undecided about attending Team USA minicamp 8
- Report: Pacers planning to purchase D-League’s Fort Wayne Mad Ants 3
- Report: Hawks’ Mike Scott told police after arrest all drugs in car were his 17
- NBA lands in Africa trying to put down roots, which is all about youth programs, infrastructure 1
- Report: Kings expected to hire Nancy Lieberman as assistant coach 9
- Report: Hawks’ Mike Scott arrested for felony drug possession 16
- Gilbert Arenas on LeBron James: “James isn’t a #1 option..and yes I (didn’t stutter)” 50