The future of the Portland Trail Blazers was hanging in the balance, caught in a legal tug-of-war that threatened to derail a massive $4.25 billion sale. But here's where it gets controversial... The owners of the Portland Fire and Thorns, RAJ Sports, accused minority investors Andrew and Peggy Cherng of betraying an exclusivity agreement to buy the Blazers, only to switch sides and join Tom Dundon’s rival group. Now, in a surprising twist, the lawsuit has been dropped, clearing the way for Dundon’s group to finalize the purchase. And this is the part most people miss... While the resolution seems straightforward, it raises questions about the ethics of business deals in professional sports and the impact on team dynamics.
The drama began when RAJ Sports, led by siblings Alex and Lisa Bhathal Merage, claimed the Cherngs—owners of Panda Express—had signed an exclusivity agreement with them on July 24, 2025, to jointly pursue the Blazers. Despite reports of Dundon’s impending purchase, RAJ Sports said they continued working with the Cherngs through the summer. However, on September 12, the Cherngs were revealed as investors in Dundon’s group, sparking the lawsuit. RAJ Sports sought to block the Cherngs from participating in the sale and requested a temporary restraining order.
In a swift turn of events, RAJ Sports dismissed the lawsuit “without prejudice” just 19 days after filing it, citing a resolution facilitated by Dundon himself. A spokesperson for RAJ Sports stated, “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.” They added, “We look forward to working closely with the Trail Blazers as the Fire join them at Moda Center next Spring.”
Dundon, alongside private equity executives Marc Zahr and Sheel Tyle, aims to close the deal by spring 2026. While the legal battle is over, the episode leaves lingering questions: Did the Cherngs breach their agreement, or was it a case of shifting priorities? And what does this mean for the Trail Blazers’ future under Dundon’s leadership?
Here’s where it gets even more intriguing... Some argue that such disputes highlight the cutthroat nature of sports ownership, while others see it as a necessary part of high-stakes business. What do you think? Is this just another day in the world of sports ownership, or does it reveal deeper issues about trust and transparency? Let us know in the comments below.
For more insights into the intersection of money and basketball, follow Mike Vorkunov, the national basketball business reporter for The Athletic, on Twitter @MikeVorkunov. And while you’re here, test your sports knowledge: Can you spot the hidden link between these sports terms? The answer might surprise you!
