MILWAUKEE -- Aaron Rodgers is the talk of the town after he was announced as the new minority owner of the Milwaukee Bucks this past weekend.
TODAY'S TMJ4 discovered there are a lot of hoops you need to jump through to become a minority owner. Rodgers knows how to 'R-E-L-A-X.'
Most NBA teams offer minority ownership, and usually, it's the "who's who" of the locale.
Sports attorney Martin J. Greenberg gave us a useful rule of thumb to understand the first step to be a minority owner like Rodgers.
"If your playing as the major owners you're in the billionaire's club -- if your playing in the minority owners you're in the millionaire's club," said Martin J. Greenberg, Real Estate & Sports attorney.
A security filing in 2014 shows $118 million in minority interest in the Milwaukee Bucks. With a total of 25 owners, no person can own less than one percent, and you can not purchase fractional shares.
"Remember that the control of that team are the three major owners these are sort of the 'shareholders,' along for the ride and it's going to be a good ride," said Greenberg.
Herb Kohl sold it to New York-based billionaires Wesley Edens and Marc Lasry for $550 million. Forbes estimates the value of the Bucks is now at more than $1 billion.
"When it goes to the sale the equity interest is substantially increased and they increased during the recession," Greenberg says.
The rigorous vetting process was likely easy for Rodgers, which is based on character and net worth, then ultimately by the NBA commissioner.
Rodgers says he is looking forward to the new Bucks arena, which Greenberg says could help the Bucks with new naming rights for the arena.
This proves having Rodgers on your team in any situation is a good bet.
