Portland Thorns Announce Additions to Ownership Group, Including Phoenix Suns Co-Owner Sam Garvin
The NWSL’s Portland Thorns have added five new investors to their ownership group, including Phoenix Suns co-owner Sam Garvin. These additions were announced on Thursday and are expected to bring new insight and expertise to the club and the league.
The other investors joining the Thorns’ ownership group are Columbia Sportswear CEO and Portland native Tim Boyle, Nehal Raj, co-managing partner of global asset managers TPG, Revitate partner and CEO Kunal Merchant, and Josh Childress, CEO of Landspire Group and a former NBA player.
“We are thrilled to welcome such an incredible group into the Portland Thorns,” said Thorns controlling owner Lisa Bhathal Merage. “Each will bring new insight and expertise into the Thorns as we embark on an exciting new chapter for the club and the league.”
Revitate, an investment vehicle led by the Bhathal Family, helped put together the new additions to the team’s investment group. The Bhathal Family also holds ownership stakes in the NBA’s Sacramento Kings, the Stockton Kings of the NBA G-League, and the Sacramento RiverCats Triple-A baseball team, among other sports ventures.
“Investor interest in the Thorns is off the charts,” said Merchant, who advised the Bhathals’ acquisition of the Thorns and helped assemble the Revitate investor group. “We are gratified and inspired to see so much belief in the future of the Thorns and in women’s sports more broadly.”
Kosport Magazine’s Take:
This is an exciting new development for the Portland Thorns as they announce additions to their ownership group. The NWSL club has brought on a diverse and experienced group of investors, including Phoenix Suns co-owner Sam Garvin, who will bring new insights to the team and the league.
These additions are led by the Bhathal Family’s investment vehicle, Revitate, and also include Columbia Sportswear CEO Tim Boyle, TPG co-managing partner Nehal Raj, Revitate CEO Kunal Merchant, and former NBA player Josh Childress. Revitate has shown great belief in the future of the Thorns and the growth of women’s sports.
This news comes after the Thorns’ recent acquisition by Lisa Bhathal Merage and her brother Alex, in the wake of their involvement in a widespread abuse scandal within the NWSL. The new ownership group is committed to continuing the positive impact the Thorns have had in their community, both on and off the pitch.
With a priority on developing a state-of-the-art training facility, this new ownership group is sure to bring new opportunities for the Thorns and the next generation of athletes. Welcome and congratulations to the new investors of the Portland Thorns!
