RAJ Sports Holding LLC and the Cherng family have reached a resolution out of court in the lawsuit regarding the Cherngs’ involvement in Dundon’s group, with The Athletic reporting that Dundon helped facilitate the deal. RAJ Sports, led by brother and sister duo Alex Bhathal and Lisa Bhathal Merage, made this statement about the development:
We are pleased to have reached a resolution out of court which we believe recognizes our position while also preserving the future of basketball in Portland. We look forward to working closely with the Blazers as the Fire join them at Moda Center next Spring.
RAJ Sports had filed the lawsuit in Delaware Court, arguing that Andrew and Peggy Cherng – co-founders of Panda Express – violated an exclusivity agreement during the sales process by joining Dundon’s investment group. According to the lawsuit, before the Cherng family partnered with Dundon, they had agreed to exclusively work with the Bhathal Merage group that was interested in bidding on the NBA franchise, pledging to invest with access to planning/coordination sessions and privileged information regarding the inner workings of the bid. The lawsuit had sought to stop the Cherngs from being a part of Dundon’s group.
Now, the dismissal of the lawsuit should clear the way for Dundon’s group to proceed with the purchase of the Blazers.
On Sept. 12, the Paul G. Allen Estate reached a formal agreement to sell the franchise to Dundon’s group. Along with Dundon and the Cherng family, other investors include Blue Owl Capital co-president Marc Zahr and Portland-based Sheel Tyle, co-CEO of Collective Global. The purchase is for a reported $4.25 billion, with the deal expected to close before the end of the 2025-26 season.
The next step in the process is for the sale to be approved by the NBA Board of Governors.