An investor group led by former Nike executive Melanie Strong is poised to submit a formal offer to Portland Thorns owner Merritt Paulson in a bid to acquire a majority interest in the NWSL team with a valuation of $60 million, sources have told ESPN.
The two sides have had a series of meetings over the last two months, and the offer is expected to be submitted within the next week.
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A source said that Strong’s group is confident that acquiring sufficient capital won’t be an issue. The all-woman investor group is comprised of about 30 people, with the core group comprised of six investors.
Sources confirmed that Strong’s group is also collaborating with a fan-led investor group led by local tech entrepreneur Chris Bright, and that there is “zero interest” in moving the team out of Portland.
Arctos Sports Partners acquired a 15% stake in the Timbers and Thorns organization in 2021.
Paulson has been under pressure to sell both the Thorns and the Portland Timbers of MLS ever since allegations of sexual harassment and coercion were made against former Thorns manager Paul Riley, for which he was fired for cause in 2015.
That pressure — from both fans and sponsors — increased following the release of the Yates Report, which detailed systemic sexual and emotional abuse throughout the league. In addition to allegations made against Riley, the report detailed how the Portland organization sought to keep quiet the reasons for Riley’s departure.
One source with knowledge of the discussions indicated that at present the proposed deal is to acquire the Thorns only, a detail first reported by Willamette Week. While Strong’s group is open to discussing acquiring the Timbers as well, sources tell ESPN that Paulson intends to retain the MLS team.
Given the number of shared resources between both teams from ticketing to support staff, acquiring just one of the teams could make any potential deal complicated, though there could be advantages as well.
By building a leadership team that is just specific to the Thorns, the expectation is that from a sponsorship perspective, from a fan experience perspective, from broadcast rights, the Thorns could maximize those aspects to a greater degree than if they were still affiliated with the Timbers.
