Founded in 1968, the Milwaukee Bucks have come a long way from when 300,000 shares of common stock were sold to Wisconsin residents at $5 per share. From the initial owners, a group of Milwaukee-based investors, headed by Wesley D. Pavalon and Marvin L. Fishman, to former US Senator Herb Kohl, followed by a group of hedge fund managers led by Marc Lasry and Weslie Edens, to the now owners, the Bucks have seen nothing but an increase in their worth.

In fact, per Forbes, the team is now worth a staggering $3.2 billion. But who are the power players behind this billion-dollar franchise? Join us as we dive quickly into the details.

The Milwaukee Bucks get an $8.5 billion rich Tennessee native as co-owner in 2023

Now, it says co-owner, but it’s actually co-owners as Jimmy and Dee Haslam, the owners of the Cleveland Browns, were the ones who bought Lasry’s 25% stake in the franchise in February 2023. Forbes puts Jimmy Haslam’s net worth at $8.5 billion while the Haslam family, as a whole, is worth a tidy $14.4 billion. Weslie and Marc had bought the Bucks from Kohl in 2014 for $550 million.

Jimmy’s father, Jim, founded the Pilot Corporation in 1958, paying $6000 for a gas station in Virginia. And today, Pilot has over 800 locations in North America. As for Dee, she and her husband are both managing partners of the Haslam Sports Group, while also owning 20% of Pilot Flying J. In addition, she is also the CEO and partner in Rivr Media, a television production company.

The couple have three adult children and are based in Tennessee.

What is the Haslam Sports Group (HSG)?

Dee and Jimmy Haslam found the HSG in 2020, along with their daughter Whitney and her husband JW Johnson. Created to invest in “strategic sports and entertainment opportunities,” HSG’s portfolio includes various sports teams as well as investments. Dee and Jimmy serve as CEO and Chairman, while JW holds the position of Executive Vice President, and Whitney – managing partner.

Which teams do the Haslams own?

HSG’s portfolio includes ownership of the Cleveland Browns, operating rights to Major League Soccer’s Columbus Crew, and co-ownership of the Milwaukee Bucks. In addition, they also have investments in HSG Ventures and HSG Facilities.

That said, there has been news of a new player who would like a slice of the Milwaukee Bucks.

Milwaukee Bucks Legend Joins Ownership Group, Boosting Team Valuation to $4 Billion

Yup, the Bucks just got upgraded! Junior Bridgeman, who played for the Bucks from 1975 to 1984, and then his last season,  is buying a 10% stake in his former team. According to CNBC report, “Bridgeman, the current owner of Ebony and Jet magazines, is getting a preferred limited partner discount of 15%, or a $3.4 billion valuation.” 

While the 71-year-old might get a discount, the transaction is valued at $4 billion and therefore, the NBA franchise is also valued the same. Needless to say, it is pretty much a full-circle moment for the Washington native. Having arrived at Milwaukee as part of the Kareem-Abdul Jabbar trade in 1975, Bridgeman played his first nine years with the team. And then after 2 years with the Clippers, the former forward once again returned for his final year.

The $600 million entrepreneur played a total of 711 games with the franchise which was a team record until Giannis broke it last year. And now, Junior sits third behind the ‘Greek Freak’ and Khris Middleton in the most games played list. But perhaps his story after the NBA career is more familiar to fans.

The highest Bridgeman earned in the league in a season was $350,000. And yet, the man now is one of the richest NBA players of all time along with the likes of LeBron James, MJ, and Magic Johnson. Not to mention, a highly-successful fast-food entrepreneur. After all, that’s how he made his fortune. After retirement, he walked into a fast-food joint in Milwaukee and offered to buy it.

An utterly flabbergasted manager replied, “Sir, this is a Wendy’s.” Anyway, he bought that one, and then four more. Following this, Bridgeman bought Chili’s franchises, too. Furthermore, he became a bottler for Coca-Cola in 2017, followed by which he signed a letter of intent to buy bottling operations in Canada in 2018. And of course, there is the Ebony and Jet Magazines, and the Bucks, now.

Either way, the Milwaukee Bucks are definitely on the right route to become a dynasty. And the new owners have no problem helping them get there.