This Is It: Seattle Kraken Ownership Just Made Their Sonics Power Move
The Kraken ownership group isn't just sitting around hoping the NBA comes back to Seattle. They are actively positioning themselves to own an NBA expansion Sonics team, and they just took a massive step Monday morning to make it happen. They launched a parent company called One Roof Sports and Entertainment and announced they are buying majority ownership of Climate Pledge Arena from Oak View Group. Translation: the Kraken ownership is getting serious, and the Emerald City should be buzzing.
One Roof Sports and Entertainment is Born
The new parent brand, led by Kraken chair Samantha Holloway, oversees a growing portfolio of properties and is positioned to fuel new opportunities. According to the press release, One Roof will serve as the umbrella for the Kraken, Climate Pledge Arena, the One Roof Foundation, the Kraken Community Iceplex, a partnership with the City of Seattle and Seattle Public Schools to redevelop a new Memorial Stadium at Seattle Center, and represents the enterprise's interest in the AHL's Coachella Valley Firebirds and Acrisure Arena in Palm Desert, California.
Here is what matters most: Climate Pledge Arena is where a potential NBA expansion team would play. By securing majority ownership of the building, the Kraken ownership group is removing a major obstacle to bringing professional basketball back to Seattle.
The NBA Vote Could Happen This Week
The timing 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. The target date for the new teams to begin play is the 2028-29 regular season. That means the NBA is closer than ever to returning a team to Seattle for the first time since the SuperSonics were moved to Oklahoma City in 2008.
Oak View Group, which oversaw the building of Climate Pledge Arena, will maintain a significant minority stake and continue to book and operate the arena under a long-term agreement. Holloway said in a statement: "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. Increasing our ownership in Climate Pledge Arena allows us to consolidate operations and sets us up for future opportunities."
The Kraken Ownership Has Always Had Eyes on Basketball
This move should not surprise anyone who has been paying attention. Holloway's father, the late Kraken co-founder and co-majority owner David Bonderman, told Seattle Sports' Brock and Salk 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. In 2024, Holloway told Bloomberg that Seattle would be "an amazing market" for the NBA, and that the league "knows that."
The NBA vote this week could be the next domino to fall. Seattle is ready.
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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.