RAJ Sports, a company run by the Bhatal family, has dropped its lawsuit against the Cherng family, one of the minority investors in Tom Dundon‘s ownership group that has signed a purchase agreement to buy the Trail Blazers, writes Mike Vorkunov of The Athletic.
Dundon and his group reportedly beat out a bid from RAJ Sports, which controls the Portland Thorns in the NWSL and the Portland Fire, the WNBA expansion team that will make its debut next season.
According to Vorkunov, Dundon helped facilitate a resolution between the Bhatals and the Cherngs.
“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,” RAJ said in a statement (Twitter link via Sean Highkin of The Rose Garden Report). “We look forward to working closely with the Blazers as the Fire join them at Moda Center next Spring.”
RAJ Sports claimed in its lawsuit that the Cherng family — which owns Panda Express — breached an exclusivity agreement and asked a judge to stop them from buying a stake in the Blazers. The lawsuit, which has been withdrawn “without prejudice,” was aimed only at the Cherngs, not the Trail Blazers or the Dundon group.
Now that the lawsuit has been dropped, the impending sale of the Blazers should proceed as normal, Vorkunov notes.