Overview

• RAJ Sports filed a Delaware Chancery case seeking to bar Andrew and Peggy Cherng from investing in the Trail Blazers as part of Tom Dundon’s group.
• Newly unsealed court documents detail a July 24 exclusivity agreement naming the Cherngs as an anchor investor in RAJ’s competing bid.
• RAJ alleges the Cherngs’ counsel declared “pencils down” on Aug. 28, then Andrew Cherng denied any talks with Dundon that same day despite later joining his group.
• The complaint says a Cherng advisor on Sept. 5 sought detailed strategy updates from a RAJ advisor before the Allen estate announced the Dundon deal on Sept. 12.
• The Allen estate’s signed sale values the team at about $4.25 billion and still requires NBA Board of Governors approval; the suit does not name Dundon, the estate, the Blazers, or the NBA as defendants and they have declined comment.