Following in the footsteps of several other star athletes, Bucks superstar Giannis Antetokounmpo is getting into the pro sports team ownership game. A month after winning the 2021 NBA Finals MVP and ending Milwaukee Bucks' 50-year title drought, Antetokounmpo is joining the Milwaukee Brewers franchise as a minority owner.
Brewers chairman and principal owner Mark Attanasio, who bought the team in 2004 from Bud Selig, remains the majority owner of the ballclub while Antetokounmpo has purchased a minority stake.
The addition of Antetokounmpo to the ownership group was announced at a press conference at American Family Field at 3 p.m. local time in Milwaukee on Friday. The Brewers tweeted out the following statement:
Giannis Antetokounmpo has joined the Crew!
The two-time MVP is officially part of the Milwaukee Brewers ownership team. Thank you, Giannis, for your commitment to our team and Milwaukee!
"The City of Milwaukee means so much to me," Antetokounmpo said. "I am honored to be joining the Brewers ownership group to further my commitment and dedication to this great community. I take great pride in my city and I'm excited about what we can build together."
During the press conference, Attanasio pointed out that Antetokounmpo is the first new individual investor added to the ownership group since he purchased the team. He also said there was unanimous support among the current members of the ownership group to add Antetokounmpo.
"We are honored to have Giannis join our team of Milwaukee Brewers investors," Attanasio said. "Giannis is a great athlete, a world champion, and a true local hero with international renown."
In terms of day-to-day operations, the fans will notice very little here. This is an investment on the part of Antetokounmpo and a pretty damn good one, given how valuable baseball franchises are these days. Forbes estimates the Brewers value at $1.22 billion. Attanasio bought them for an estimated $223 million in 2004.
Some notable past and present star athletes with ownership stakes in Major League Baseball include Magic Johnson (former Lakers star who is now a part owner of the Dodgers), Patrick Mahomes (current Chiefs quarterback who also has a minority stake in the Royals) and LeBron James has invested in Fenway Sports Group, which owns the Boston Red Sox.
The Milwaukee sports scene seems a particularly close-knit group, as Packers quarterback Aaron Rodgers is a part-owner of the Bucks. Also, former Brewers pitcher Ben Sheets along with Attanasio are part of the ownership group of the Milwaukee Admirals of the American Hockey League.