A new lawsuit is blocking the sale of the Portland Trail Blazers because investors don’t want the owners of the Panda Express restaurant chain to be part of the deal. Andrew and Peggy Cherng, the billionaire owners of Panda Restaurant Group, are planning to purchase a minority share in the NBA team.
The lawsuit was filed by RAJ Sports, which is run by the Bhathal family, and has ownership stakes in the NBA’s Sacramento Kings, the MiLB Sacramento RiverCats, the G-League Stockton Kings, the NWSL Portland Thorns, and the new WNBA expansion franchise, the Portland Fire. The Cherngs are a part of the group led by Carolina Hurricanes owner Tom Dundon that intends to purchase the Trail Blazers from the Paul Allen estate for $4.25 billion.
According to Law360, RAJ Sports wants the Cherngs and their interests to be “enjoined from circumventing, bypassing, interfering with, competing with, or attempting to circumvent, bypass, interfere with, or compete with Plaintiff with respect to any transaction involving the Trail Blazers franchise.” RAJ Sports also claims the Cherngs breached an unspecified exclusivity agreement dated July 24, 2025.
Because most of the complaint is currently under seal in the Delaware Court of Chancery, there is very little information available as to why RAJ Sports is specifically targeting the Cherngs. Paul Allen’s sister, Jody, Tom Dundon, the NBA, and WNBA have no involvement in the lawsuit.
RAJ Sports is seeking a temporary restraining order enjoining Andrew Cherng and Peggy Cherng, CFIC-W Copernicus LLC, or their employees, agents and others from pursuing any agreement, arrangement or other deal involving the Trail Blazers franchise.
Andrew Cherng was born in China in 1948 and moved to the Los Angeles area in 1972. He opened the first Panda Express in 1983 in Glendale, California. His wife, Peggy Cherng, was born in Myanmar, and grew up in Hong Kong. She moved to the United States in the late 1960s. For three years in the 1970s, she was an engineering specialist at McDonnell Douglas before becoming a technical engineer and software department manager at a subsidiary of 3M. She took over as CEO and president of the Panda Restaurant Group in 1997.
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Sale Of Portland Trail Blazers Being Blocked By Lawsuit Against Panda Express Owners
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