One of my favorite sports business stories involves an athlete that turned his $350,000 salary into a net worth of $600 million.
He's one of the best athlete entrepreneurs of all time, and you have probably never even heard of him.
Here's the incredible story 👇
He's one of the best athlete entrepreneurs of all time, and you have probably never even heard of him.
Here's the incredible story 👇
1) Ulysses Lee “Junior” Bridgeman was born and raised in Chicago and was selected in the 1st round of the 1975 NBA Draft by the LA Lakers.
But his time in LA didn't last long.
Bridgeman was immediately traded to Milwaukee as part of a package to bring Kareem Abdul Jabbar to LA.
But his time in LA didn't last long.
Bridgeman was immediately traded to Milwaukee as part of a package to bring Kareem Abdul Jabbar to LA.
2) Bridgeman wasn’t a superstar, but with a career total of over 11,500 points and almost 3,000 rebounds, he certainly wasn’t a slouch either.
He played ten years with the Milwaukee Bucks and two years for the Los Angeles Clippers, excelling in his role as the sixth man.
He played ten years with the Milwaukee Bucks and two years for the Los Angeles Clippers, excelling in his role as the sixth man.
3) But NBA paychecks weren’t what they are today.
Many athletes made more money off endorsements than they did through their contracts.
For example, Junior Bridgeman earned no more than $350,000 in a single season.
But this is where it gets interesting.
Many athletes made more money off endorsements than they did through their contracts.
For example, Junior Bridgeman earned no more than $350,000 in a single season.
But this is where it gets interesting.
4) Bridgeman knew this money wouldn't last forever.
So to prepare for life after basketball, he spent his offseason working at a Wendy's drive-through to learn about the fast food business.
And by the time he retired from the NBA, Bridgeman already owned 3 Wendy's franchises.
So to prepare for life after basketball, he spent his offseason working at a Wendy's drive-through to learn about the fast food business.
And by the time he retired from the NBA, Bridgeman already owned 3 Wendy's franchises.
5) And after seeing initial success, Bridgeman doubled down.
He invested in more than 160 locations over the next 20+ years and eventually built a portfolio of 360 fast-food restaurants in 16 states.
But then he set his sights on an even bigger opportunity.
He invested in more than 160 locations over the next 20+ years and eventually built a portfolio of 360 fast-food restaurants in 16 states.
But then he set his sights on an even bigger opportunity.
6) In 2016, as part of a bottling and distribution deal with The Coca-Cola Company, Junior Bridgeman agreed to sell off his fast-food franchise locations.
The agreement with Coca-Cola granted Bridgeman exclusive operations in parts of Kansas, Missouri, Illinois, and Nebraska.
The agreement with Coca-Cola granted Bridgeman exclusive operations in parts of Kansas, Missouri, Illinois, and Nebraska.
7) The Coca-Cola deal was a dream for Bridgeman, who had been fascinated with the brand since his playing days, and he has since acquired additional bottling rights within Canada.
All in, Bridgeman has built up an estimated net worth of $600 million — not bad for a $350k salary.
All in, Bridgeman has built up an estimated net worth of $600 million — not bad for a $350k salary.
8) We are often fed astonishing facts about an athlete's mismanagement of money.
With Junior Bridgeman, it's refreshing to see a player recognize the opportunity in front of them and put in the hard work & self-education necessary to transition from NBA player to business titan.
With Junior Bridgeman, it's refreshing to see a player recognize the opportunity in front of them and put in the hard work & self-education necessary to transition from NBA player to business titan.
9) If you enjoyed this thread, you should:
1. Follow me; I tweet cool stories like this every day.
2. Subscribe to my free daily newsletter where I break down the most interesting stories in sports business.
huddleup.substack.com
1. Follow me; I tweet cool stories like this every day.
2. Subscribe to my free daily newsletter where I break down the most interesting stories in sports business.
huddleup.substack.com
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