Tom Dundon, who is leading a group that wants to purchase the Portland Trail Blazers , on Tuesday said in a court filing that he expects to be able to purchase the NBA franchise without money from the deep-pocketed founders of Panda Express, though he didn’t strictly rule out such an investment.
In mid-September, Paul Allen’s estate said it had reached a deal to sell the Trail Blazers to a group led by Dundon that included investment from Andrew Cherng and Peggy Tsiang Cherng, who founded Panda Express and have a net worth of $7.5 billion, according to Forbes.
A lawsuit filed two weeks later challenged whether the Cherngs could invest in Dundon’s ownership group , alleging they had violated an exclusivity deal that bound them to invest in a competing bid led by RAJ Sports Holdings,