The Portland Thorns officially have new ownership after a year-long process. RAJ Sports has controlling ownership of the club after a deal with Peregrine Sports LLC was finalized as the two groups announced on Wednesday. Former owner Merritt Paulson placed the club for sale in December 2022 after several club executives and former head coach Paul Riley were implicated in multiple investigations involving sexual harassment and coercion.
The $63 million deal reported by The Athletic is now the largest in league history for an existing franchise. In October 2023, an ownership group led by MLB's Chicago Cubs co-owner Laura Ricketts purchased the Chicago Red Stars for a then-record $35.5 million with an additional $25.5 million earmarked for club-specific investment.
Lisa Bhathal Merage will serve as controlling owner and NWSL governor, while her brother Alex Bhathal will serve as NWSL alternate governor in the next era of Thorns ownership.
"This is an exciting day for the NWSL and our continued growth as we welcome this exceptional new ownership group," said NWSL Commissioner Jessica Berman. "Portland Thorns FC is an iconic club, supported by some of the best fans in sports, and I'm thrilled to welcome Lisa and Alex to the NWSL board."
A franchise no longer in limbo
While the deal sets a new record in the league, it also marks a new beginning for the Thorns. The franchise was in limbo over the previous two seasons after constant dismissals of former executives and a battle with supporters over the club's role in fostering an environment for harassment to thrive.
Supporters led protests and fans made their voices heard for Paulson to sell the team but no official intent to sell came to pass until after U.S. Soccer's investigation, led by former deputy attorney general Sally Q. Yates. Paulson officially issued a statement stepping down as CEO two weeks before additional findings in the NWSL joint investigative team report were made public.
There will still be a working partnership between RAJ Sports and Paulson's Peregrine Sports. Paulson is still the majority owner of MLS club Portland Timbers, and for the last decade, the Timbers and Thorns have played their games at Providence Park. The new owners have plans to keep the team in Portland, with the Thorns set to play games there in the upcoming season, and per a lease, through 2035.
California owners keep team in Portland
Lisa Bhathal Merage and Alex Bhathal are the faces of the new ownership. The siblings, along with their parents Raj and Marta Bhathal, are no strangers to sports ownership. They have additional holdings in the NBA's Sacramento Kings, AAA baseball club Sacramento RiverCats, NBA-G League's Stockton Kings and the Kings Guard NBA 2K e-sports team.
"This is a milestone day for our family, and for the amazing Portland community," Lisa Bhathal Merage said in a statement. "Everything we do centers on positive impact. As fans ourselves, and as seasoned sports and real estate operators, we believe in the future of Portland and the NWSL and in the tremendous opportunity that surrounds this iconic team."
RAJ Sports has already committed to advancing plans for a new first-class, purpose-built, women's soccer-specific training facility, along with providing new facilities for business operations and front office staff.
"Our vision is to support new, widespread growth for the Thorns, the people of Portland, and for women's sports as a whole," Bhathal Merage said. "Specifically, we bring deep experience in professional sports and large-scale real estate developments that create thriving community centers, making us well-positioned to deliver valuable assets that will support further growth for the players, staff and fans."
What's next?
The club will now look ahead to the upcoming NWSL Draft on Jan. 12, with the regular season set to begin on March 15. The team has seen the departures of free agents Crystal Dunn and Michelle Vasconcelos this offseason and still have defenders and fan favorites Meghan Klingenberg and Becky Sauerbrunn on the free agent market. New owners and executives will have to keep an eye on the future as well, with U.S. women's national team star striker Sophia Smith on a contract that expires after this upcoming season.
