Tim Boyle of Columbia Sportswear was one of five investors brought together by the team’s new owners.
Portland, Oregon — This article is courtesy of KGW News partner Portland Business Journal. Read the full story heresimilarly Click here for a follow-up interview with Tim Boyle.
The Portland Thorns said Thursday that it has attracted several high-profile new investors, including some of Portland’s biggest companies.
Columbia Sportswear’s Tim Boyle was one of five investors brought together by the team’s new owners. Others include Phoenix Suns co-owner Sam Garvin, former NBA player and Landspire Group CEO Josh Childress, TPG co-managing partner Nehal Raj, and alternative investment platform Revitate’s Kunal Merchant is partner and chief operating officer (COO). The Merchant group is led by Lisa Baatar Merage and Alex Baatar, whose RAJ Sports acquired the Thorns in January.
“Each (investor) will bring new insight and expertise to the Thorns as we embark on an exciting new chapter for the club and league,” Batal Meraj said in the release.
The investment amount was not disclosed. At the time, sources close to the deal said RAJ Sports paid the team $63 million.
It’s a big year for the Thorns, who after a very tough start to the season are on a six-game winning streak in what may be legendary Christine Sinclair’s final season.
Merchant, head of sports activities at Revitate, said the investment was a “great sign of confidence in the future of the Thorns and in women’s sport more broadly”.
Boyle said in an interview with the Portland Business Journal that the strategy makes sense in many ways.
“I think it’s going to be a great investment,” Boyle said. “We have the opportunity to consider a wide variety of investments, whether it’s stocks or bonds or real estate. And for Portland, especially women’s sports, this is even more interesting for the reasons I listed earlier.”
“And I think Portland needs some encouragement. That turned out great for us.”
