Billionaire philanthropist Melinda French Gates is buying a stake in the NHL’s Seattle Kraken, pending league approval.
Financial details of the deal have not been revealed, but French Gates has come to an agreement with the Kraken’s parent corporation, One Roof Sports and Entertainment, which is led by Samantha Holloway, one of only a few women to serve as a principal owner in the NHL.
French Gates isn’t a major figure in sports, although she considers herself to be a passionate fan.
More importantly, she is a key figure in the recent history of Seattle, where she spent nine years working at Microsoft, the software company co-founded by her ex-husband Bill, and later in various charitable roles.
‘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,’ French Gates said in a statement. ‘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.’
Gates is not the first Microsoft executive to buy into a pro team. Late co-founder Paul Allen owned the Seattle Seahawks and Portland Trail Blazers, while former CEO Steve Ballmer is currently the owner of the Los Angeles Clippers.
Billionaire philanthropist Melinda French Gates is buying a stake in the NHL’s Seattle Kraken
Melinda Gates was married to Bill for 27 years before they divorced amid infidelity rumors
Seattle Kraken forward Jamie Oleksiak is pictured during the 2023 Stanley Cup Playoffs
Although it’s unclear if French Gates will have any direct control of the team, One Roof Sports and Entertainment does have a foundation focused on expanding youth access to sports which the 61-year-old Texan is expected to engage with.
‘We’re really aligned on that,’ Holloway told ESPN. ‘We really believe that in order to evolve the sport of hockey over the next 20 years, we have to start now by growing the fanbase and growing the number of people playing the game.’
One Roof Sports and Entertainment recently gained a majority stake in its home, Climate Pledge Arena, and Holloway told ESPN that the company is eying a bid for an NBA expansion franchise if that league decides to return to Seattle.
‘The City of Seattle certainly could use an NBA team, and the fans here are ready for it,’ Holloway said. ‘If that happens, they will all buy their Kraken friends beers because it wouldn’t happen without them. So we are hopeful, we are working on it, and stay tuned.’
The Kraken went 34-37-11 this season and will pick seventh overall in this month’s NHL Draft.
Melinda and Bill divorced in 2021 after he was publicly accused of infidelity and linked to disgraced financier Jeffrey Epstein.
Tax filings obtained by The New York Times showed Bill made a nearly $8 billion payment to Melinda’s foundation last year as part of their divorce settlement. However, their agreement is believed to be far more lucrative, both for her and her organization, the Pivotal Philanthropies Foundation.
