Newport Beach-based RAJ Sports, led by siblings Lisa Bhathal Merage and Alex Bhathal, has formally assumed controlling ownership of Portland Thorns FC of the National Women’s Soccer League from Peregrine Sports LLC, the two groups announced today. Terms weren’t disclosed.
Lisa Bhathal Merage will serve as controlling owner and NWSL Governor, while Alex Bhathal will serve as NWSL Alternate Governor. The trade publication Sportico valued the team at $65 million.
“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.”
This acquisition represents the latest in a growing portfolio of sports team ownership positions held by the Bhathal family, who include Lisa, Alex, and their parents Raj and Marta Bhathal. The family’s additional holdings include the NBA’s Sacramento Kings, Sacramento RiverCats AAA baseball club, Stockton Kings NBA-G League club, and Kings Guard NBA 2K e-sports team. Additionally, Lisa and Alex are co-founders and managing partners of Revitate, a Newport Beach-based investment firm specializing in sports, real estate, and consumer brand investments.