The Seattle Kraken hockey franchise revealed Monday that billionaire philanthropist Melinda French Gates will be purchasing a minority ownership position in the team.
Financial details of the transaction, which must receive approval from the NHL, have not been made public.
The agreement brings together French Gates, who previously was married to Microsoft’s founder Bill Gates and holds a $30 billion net worth per Forbes estimates, with the Kraken’s ownership organization (One Roof Sports and Entertainment), led by Samantha Holloway.
“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 press release. “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. Seattle is an engine of innovation in so many ways, and Samantha Holloway’s leadership of the Kraken and Climate Pledge Arena reflects that.”
“I am excited to welcome Melinda to our ownership group,” Holloway added in the press release. “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.”
Since beginning play during the 2021-22 season, the Kraken have reached the playoffs only one time across their initial five seasons. In May, the organization brought in the Sportsology Group, a consulting company, to conduct an independent review of their hockey operations division.
