SEATTLE — One of the world’s most influential philanthropists and business leaders is joining the Seattle Kraken ownership group and its umbrella organization, One Roof Sports and Entertainment.
One Roof Sports and Entertainment announced that Melinda French Gates will become a minority investor, pending approval from the NHL.
By investing in One Roof, French Gates is not just joining the Kraken ownership; One Roof owns a controlling stake in Climate Pledge Arena, the Kraken Community Iceplex in Northgate, the new Memorial Stadium at Seattle Center, the American Hockey League’s Coachella Valley Firebirds and Acrisure Arena, and the One Roof Foundation.
The news was first reported by ESPN.
The move pairs French Gates with Kraken majority owner Samantha Holloway, one of the few women serving as a principal owner in the NHL.
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French Gates said she was drawn to both Seattle and Holloway’s vision for the franchise.
“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,” said French Gates in a statement released by the team. “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,” French Gates added.
The investment marks French Gates’ first ownership stake in a major professional sports franchise.
“Melinda is a big believer in the power of sports,” the Kraken said in a social media post. “After many years of cheering on Seattle from the sidelines, she is joining us in The Deep.”
French Gates said it also reflects a broader shift toward women taking on leadership roles across sports and business.
“It’s just time,” French Gates said in the ESPN interview. “What you’re seeing is a generation of women coming into their full power.”
The announcement also comes as Holloway continues efforts to bring the NBA back to Seattle.
Holloway has previously confirmed she is assembling an ownership group prepared to bid for a future franchise and said the Kraken ownership group’s acquisition of a majority stake in Climate Pledge Arena strengthens that position.
Seattle Kraken Co-Owner and Co-Chair Samantha Holloway speaks during a press conference introducing new head coach Dan Bylsma on May 28, 2024. (KOMO News)
“I am excited to welcome Melinda to our ownership group,” said Samantha Holloway in a prepared 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.”
In a video posted on the Kraken website, French Gates spoke at length about the community impact of sports.
“As I would travel the world, even on behalf of the work that I’ve been doing in philanthropy, if I stop and ask almost any adult who’s been influential in your life, one of the top three answers is their coach,” French Gates said. “It’s either a teacher, a parent, or their coach. That is the difference that sports can make in somebody’s life, and not just at that moment, but in their trajectory and how they see themselves.”
“So, for me, the fact that hockey is here and young people are coming out and watching these players, and like, they have their favorite player, they want to be like that person on the ice, and they know they can do it,” French Gates added. “It just speaks volumes, and it speaks volumes for bringing people into the city and having an entertaining experience, but in an enjoyable night, often with their family.”
French Gates is worth close to $30 billion, according to Forbes. She would be the kind of deep-pocketed investor that could pay a significant chunk for a slice of an NBA expansion franchise, if she chose to do it.
French Gates invested millions, along with Mackenzie Scott, to help renovate Centennial and Myrtle Edwards Park.
Scott has also donated millions of dollars to charities and was previously linked to the NBA’s Portland Trailblazers before they were sold to Tom Dundon’s investment group.
This is a developing story. Check back for updates.
