Siblings Bhathal Merage and Bhathal will run the still-unnamed team, which they paid $125 million for, under the company Raj Sports, according to the Associated Press (the Bhathal family is part of a group that bought the Sacramento Kings in 2013).

While Portland basketball fans are daydreaming of picking JuJu Watkins in the WNBA draft in two years or signing Oregon Ducks legend Sabrina Ionescu when her contract expires in 2026, the obvious next course of action is figuring out what the new team will be named.

Commissioner Cathy Engelbert had previously named Philadelphia as a potential expansion city. But with three new expansion cities announced since last year, could time be running out for Philadelphia?