PORTLAND, Ore. — This story is courtesy of the Portland Business Journal, a KGW news partner. Read the full story here, as well as a follow-up interview with Tim Boyle here.
The Portland Thorns revealed Thursday that it has attracted several heavy-hitting new investors, including a Portland business mainstay.
Columbia Sportswear Co.'s Tim Boyle was one of five investors assembled by the team's new owners. The others are Phoenix Suns co-owner Sam Garvin, former NBA player and Landspire Group CEO Josh Childress, TPG's co-managing partner Nehal Raj and Kunal Merchant, who's partner and COO of the alternative investment platform Revitate. Merchant's group is led by Lisa Bhathal Merage and Alex Bhathal, whose RAJ Sports bought the Thorns in January.
“Each (investor) will bring new insight and expertise into the Thorns as we embark on an exciting new chapter for the club and league," Bhathal Merage said in a release.
The amount of the investments weren't disclosed. RAJ Sports paid $63 million for the team, a source close to the deal said at the time.
It's a big year for the Thorns, who, after a very rough start to the season, are on a six-match winning streak in what could be legend Christine Sinclair's last season.
Merchant, who heads Revitate's sports activities arm, said the investments indicate "much belief in the future of the Thorns and in women’s sports more broadly.”
Boyle, in an interview with the Portland Business Journal, said the strategy makes sense on several levels.
“I just think it's gonna be a terrific investment,” Boyle said. “We have the opportunity to look at different kinds of investments across the spectrum, whether it is stocks and bonds, or real estate or whatever, and this one is more interesting for the reasons I cited earlier, for Portland and specifically for women’s sports.
“And I think Portland needs a shot in the arm, so that was what put it over the top for us.”
