Kraken ownership takes potential step toward owning an NBA Sonics team

The Seattle Kraken ownership group has launched a parent brand, One Roof Sports and Entertainment, to “oversee a growing portfolio of properties and fuel new opportunities” – something that could include owning an NBA expansion Seattle Sonics team.

Report: NBA sets date to vote on a Seattle Sonics expansion team

The new brand, led by Kraken chair Samantha Holloway, was revealed in a press release Monday morning, along with the announcement that One Roof Sports and Entertainment has entered an agreement to purchase additional equity in Climate Pledge Arena from Oak View Group and make the organization the majority owner of the building. Climate Pledge Arena is where the Kraken play and where a potential NBA expansion team would likely call home.

“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 is an amazing partner, and I am pleased that they will continue to operate the facility for many years to come.”

OVG, 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,” per the release.

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. It 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 and became the Thunder.

It has long been speculated that the Kraken ownership would be major players if the NBA made a return to Seattle. Holloway’s father, late Kraken co-founder and co-majority owner David Bonderman, told Seattle Sports’ Brock and Salk 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 NBA’s Boston Celtics.

Additionally, Holloway told Bloomberg in 2024 that Seattle would be “an amazing market” for the NBA, and that the league “knows that.”

According to Monday’s release, One Roof Sports and Entertainment will “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 interest in the AHL’s Coachella Valley Firebirds and Acrisure Arena” in Palm Desert, Calif.

This post includes contributions from an article by The Associated Press.

Salk: The big question Seattle Kraken need to answer

Related

LeBron James going to Philadelphia 76ers in his ‘last decision’Ex-Sonics voice Kevin Calabro stepping away from Trail BlazersESPN starts layoffs tied to NFL Network acquisition, memo says2026 World Cup takeaways: How the tournament will be rememberedSpain beats Argentina 1-0 in extra time for 2nd World Cup titleSaka’s hat trick lifts England past France 6-4 in World Cup 3rd-place game