Melinda French Gates to Become Seattle Kraken Minority Investor

Melinda French Gates will become a minority investor in the Seattle Kraken, pending approval by the NHL. The transaction pairs French Gates with majority owner Samantha Holloway, one of the few women serving as a principal owner in the NHL. French Gates said the decision followed meetings with Holloway and reflected shared priorities around community investment in Seattle.

"I see this incredible opportunity that sports plays for a community to bring people together," French Gates said. The Kraken investment is her first ownership stake in a major professional sports franchise.

Holloway said the Kraken's One Roof Foundation, which works to expand youth access to sports, aligned with French Gates' philanthropic focus on opportunity for women and families. "We're really aligned on that," Holloway said.

The team is on its third head coach and recently retained consulting firm Sportsology to review hockey operations. "It's no secret that we're not thrilled with where we ended the season, and we take that really seriously," Holloway said. " Holloway also confirmed the ownership group is preparing a bid for an NBA franchise to return the SuperSonics to Seattle.

The group recently acquired a majority stake in Climate Pledge Arena. French Gates said she expects the Kraken to contend for the Stanley Cup. "My hopes and dreams are that they blow the roof off the stadium because they're so loud because they won a Stanley Cup," she said.