RAJ Sports, a rival bidder for the Portland Trail Blazers, thought it could still buy the team after news broke on Aug. 13 that the NHL’s Tom Dundon had reached a deal to acquire the professional basketball franchise.

Behind the scenes, RAJ Sports Holdings LLC was still working “feverishly” to finalize a bid that it thought would surpass Dundon’s, according to a lawsuit filed Monday and made public Friday.

But RAJ Sports claims its bid collapsed when the founders of Panda Express violated an exclusivity deal and joined Dundon’s bid instead.

RAJ Sports, owners of Portland’s new WNBA franchise and the Portland Thorns, and led by siblings Lisa Bhathal Merage and Alex Bhathal, describe themselves in the lawsuit as the ideal owners for the Blazers given the “natural appeal and synergies”

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