SEATTLE (AP) — Billionaire philanthropist and business leader Melinda French Gates is set to become a minority owner of the Seattle Kraken hockey team, subject to approval from the NHL.
The 61-year-old French Gates, who was formerly married to Microsoft co-founder Bill Gates, brings a net worth of $30 billion according to Forbes to an ownership consortium led by majority owner and managing partner Samantha Holloway. Other investors in the group include David Wright, Andy Jassy, and veteran Hollywood producer Jerry Bruckheimer.
“As a longtime Seattle resident, it means a lot to me to have the chance to make this investment in our city and its future,” French Gates said in a statement. “I’m a big believer in the power of sports, and after many years of cheering on Seattle from the sidelines, I’m excited to have an even deeper connection to the Seattle sports community.”
This marks French Gates’ first ownership position in a major professional sports organization. Her investment comes as the Kraken ownership team works to position itself for potential ownership of an NBA team, should professional basketball return to the Emerald City for the first time since the SuperSonics departed for Oklahoma City almost two decades ago.
The Kraken ownership group announced the formation of One Roof Sports and Entertainment in March, creating an umbrella organization to “oversee a growing portfolio of properties and fuel new opportunities.” During that announcement, Holloway stated that One Roof would pursue bringing an NBA franchise to Seattle if the league decides to expand.
Holloway also revealed in March that the group had reached an agreement to purchase additional ownership shares in Climate Pledge Arena from Oak View Group, making the organization the majority owner of the venue. OVG maintains a minority ownership position.
French Gates, who was raised in Dallas and earned degrees in computer science and economics along with an MBA from Duke University, currently leads Pivotal, an organization she established to advance social progress for women and young people both domestically and internationally.
She previously established and co-led the Gates Foundation, recognized as the world’s largest philanthropic organization.
“I am excited to welcome Melinda to our ownership group,” Holloway said in a statement. “Melinda is an impressive business leader, philanthropist and importantly, a Seattle sports fan. We share many of the same values, including a deep commitment to Seattle and a belief in building organizations that create lasting impact.”
