This Is Really Happening: Kraken Ownership Just Made Their Sonics Power Move
Stop what you are doing. The Seattle Kraken ownership group just took a massive step toward bringing the SuperSonics back home, and it happened Monday morning with the launch of a brand new parent company. One Roof Sports and Entertainment is officially in the game, and yeah, owning an NBA expansion team in Seattle is squarely on the menu.
Here is what just went down: the Kraken ownership group revealed One Roof Sports and Entertainment, which will oversee a growing portfolio of properties and fuel new opportunities. In the same breath, they announced that One Roof has entered an agreement to purchase additional equity in Climate Pledge Arena from Oak View Group, making the organization the majority owner of the building. Climate Pledge Arena. Where the Kraken play. Where a potential NBA expansion team would absolutely call home. Connect the dots.
They Are Not Hiding This Anymore
Kraken chair Samantha Holloway made it crystal clear 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."
Translation: they are positioning themselves for what comes next. OVG will keep a significant minority stake and continue to operate the arena under a long-term agreement, but One Roof is now calling the shots as the majority owner. That matters. That is control.
The NBA Timing Is Perfect
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. This is not speculation anymore. This is happening.
It has long been speculated that Kraken ownership would be major players if the NBA ever returned to Seattle. Holloway's father, 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 was previously a minority owner of the Boston Celtics. Holloway herself told Bloomberg in 2024 that Seattle would be "an amazing market" for the NBA, and that the league "knows that."
One Roof Sports and Entertainment will now serve as the umbrella brand for the Kraken, Climate Pledge Arena, One Roof Foundation, the Kraken Community Iceplex, a partnership with the City of Seattle and Seattle Public Schools in redeveloping a new Memorial Stadium at Seattle Center, and represent the enterprise's interests in the AHL's Coachella Valley Firebirds and Acrisure Arena in Palm Desert, California.
The SuperSonics left Seattle in 2008 when they moved to Oklahoma City and became the Thunder. That was 18 years ago. If the NBA Board of Governors approves this expansion vote this week, we could see professional basketball return to the Emerald City by 2028. The Kraken ownership is not just waiting for it. They are building the foundation right now.
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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.