The sale of Portland Thorns FC is nearly complete. The Bhathal family, via RAJ Sports, is in the final stages of purchasing the team from Peregrine Sports, LLC, according to two sources briefed on the transaction who were not authorized to speak publicly while the deal is still in progress. While the NWSL and commissioner Jessica Berman had targeted the end of this year for the sales of both the Thorns and OL Reign, the close of this transaction is not expected until early 2024.
Lisa Bhathal Merage is leading the transaction for RAJ Sports and will serve as the team’s representative on the NWSL Board of Governors once approved. Bhathal Merage’s brother and partner across multiple business entities, Alex Bhathal, will serve as the alternate governor. Sportico first reported that the two sides were engaged in exclusive talks last month.
The sale has not yet been voted on by the board, though sources told The Athletic that the two potential investors traveled to New York City this week at the invitation of the commissioner. They presented their bid for the Thorns at a board of governors meeting, which included “their belief in the Portland market,” according to one source. The Bhathals have committed to keeping the team in Portland with home games at Providence Park.
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