The Kraken Just Made a Huge Power Play That Could Bring the Sonics Back to Seattle
Hold up. The Kraken ownership group just did something massive on Monday morning, and if you have been waiting for professional basketball to return to Seattle, you need to pay attention. The ownership launched a parent brand called One Roof Sports and Entertainment specifically "to oversee a growing portfolio of properties and fuel new opportunities," and yeah, that includes potentially owning an NBA expansion Seattle Sonics team.
Kraken Chair Just Took Control of Climate Pledge Arena
Here is the move that changes everything: One Roof Sports and Entertainment, led by Kraken chair Samantha Holloway, has entered an agreement to purchase additional equity in Climate Pledge Arena from Oak View Group and become the majority owner of the building. Climate Pledge Arena is where the Kraken play right now. It is also where an NBA team would almost certainly call home if Seattle gets a franchise.
"We're committed to this community, and this parent brand brings together everything we've done, from a privately financed arena to the Seattle Kraken," Holloway said in a statement. "Increasing our ownership in Climate Pledge Arena allows us to consolidate operations and sets us up for future opportunities."
OVG will keep a "significant minority stake" and continue to book and operate the arena under a long term agreement, so they are not going anywhere. But now the Kraken ownership controls the building, which is a massive advantage if the NBA comes calling.
The NBA Vote Is Happening This Week
The timing here is not a coincidence. The NBA Board of Governors is expected to approve a vote this week to explore expanding to 32 teams by adding franchises in Seattle and Las Vegas, with the 2028-29 regular season as the target date for the new teams to begin play. We are talking about the Sonics potentially returning to the Emerald City for the first time since 2008, when the team was moved to Oklahoma City and became the Thunder.
Holloway's father, late Kraken co-founder and co-majority owner David Bonderman, told Seattle Sports back in 2018 that "if there's a basketball franchise available, we're going to go after it." Bonderman previously was a minority owner of the Boston Celtics. And just last year, Holloway told Bloomberg that Seattle would be "an amazing market" for the NBA, and that the league "knows that."
One Roof Is Building an Empire
This parent brand is becoming the umbrella for everything: the Kraken, Climate Pledge Arena, the Kraken Community Iceplex, One Roof Foundation, a partnership with the City of Seattle and Seattle Public Schools for redeveloping a new Memorial Stadium at Seattle Center, plus interests in the AHL's Coachella Valley Firebirds and Acrisure Arena in Palm Desert.
This is not just about hockey anymore. The Kraken ownership is positioning itself to be a major sports and entertainment player, and an NBA team would fit right into that portfolio. The vote is happening this week. Keep your phone close.
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This article was created with AI assistance and reviewed by Seattle On Tap editorial staff. Always verify information with official team sources.