In a significant development within the NWSL, the Bhathal family, prominent investors in the NBA's Sacramento Kings, are reportedly in exclusive negotiations to acquire the Portland Thorns.

The Bhathals, according to Sportico and further detailed by The Oregonian/OregonLive, stand as the frontrunners amidst various interested parties vying for ownership of the Thorns. Although a formal purchase agreement has yet to be finalized, the ongoing discussions position the Bhathal family as the primary contenders in talks with the current owners, Merritt Paulson and Peregrine Sports, as well as BDT Capital, the firm overseeing the sale process.

The anticipated completion of this transaction is expected by the end of 2023, as previously reported by The Oregonian/OregonLive. The Thorns, a prestigious entity within the NWSL, have been valued at approximately $65 million. This valuation follows initial reports from December last year, where insiders familiar with the sale proceedings suggested that Peregrine Sports sought a figure surpassing $60 million for the three-time NWSL champions.

The Bhathal family's journey into the American sports landscape is marked by entrepreneurship and growth. Raj Bhathal, the family patriarch, migrated from India to the U.S. in 1960. Alongside his wife, Marta, he established Raj Manufacturing, a swimsuit company, in 1967. Their children, Alex and Lisa Bhathal, led a private equity buyout of their parents' company in 2006, forming Raj Capital Managing Partners. This strategic move included investments from several partners, including the renowned investment bank Goldman Sachs, coincidentally where Hank Paulson, father of Merritt Paulson, once held the position of CEO.

Should the sale materialize, Sportico reports that Marta Bhathal, alongside her son Alex, would assume the role of controlling owners of the Portland Thorns.