MILWAUKEE — Former Milwaukee Bucks forward Junior Bridgeman is purchasing an ownership stake in the NBA team he played with for 10 seasons, according to reports.

Bridgeman, who turns 71 on Sept. 17, is buying a 10% stake in the Bucks at a valuation of $4 billion, CNBC reports. Bridgeman is getting a preferred limited partner discount, equating to a $3.4 billion valuation, due this his status as a former Bucks player.

The Bucks are majority owned by three groups – Wes Edens, Jamie Dinan and Jimmy and Dee Haslam, who also own the Cleveland Browns. Each ownership group has about a 25% stake in the Bucks, per CNBC.

Bridgeman, the owner of Ebony and Jet magazines, has a reported net worth of more than $600 million, according to ESPN. His other business successes include owning a range of restaurant chains, including Wendy’s and Chili’s, and becoming a distributor for Coca-Cola bottles, with territory across three states and into Canada.

As for Bridgeman’s 12-year NBA career, the former Louisville standout was drafted by the Los Angeles Lakers with the eighth pick in the 1975 NBA Draft. A few weeks later, Bridgeman was included in the Lakers’ trade package that sent him and three others to the Bucks in exchange for legendary center Kareem Abdul-Jabbar, who went on to win five NBA titles with the Lakers throughout the 1980s.

Bridgeman, meanwhile, played his first nine seasons for the Bucks from 1975 to 1984, averaging 14.4 points, 3.8 rebounds and 2.6 assists in 26.1 minutes across 677 games played. After nine seasons with the Bucks, he was traded to the Los Angeles Clippers, where he played two seasons. He returned to the Bucks for one final season in 1986-87 before retiring from the NBA after 12 seasons.