Billionaire philanthropist Melinda French Gates is purchasing a stake in the NHL's Seattle Kraken, subject to league approval. The financial terms of the deal have not been disclosed, but French Gates has reached an agreement with the Kraken's parent company, One Roof Sports and Entertainment, led by Samantha Holloway, one of the few women serving as a principal owner in the NHL.
French Gates, though not a major figure in professional sports, describes herself as a passionate fan. More significantly, she is a prominent figure in Seattle's recent history, having worked for nine years at Microsoft, the software giant co-founded by her ex-husband Bill Gates, and later in various charitable roles.
Statement from French Gates
'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 stated. '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.'
Microsoft Executives and Sports Ownership
French Gates is not the first Microsoft executive to invest in a professional sports team. Late co-founder Paul Allen owned the Seattle Seahawks and Portland Trail Blazers, while former CEO Steve Ballmer currently owns the Los Angeles Clippers.
While it remains unclear if French Gates will have direct control over the team, One Roof Sports and Entertainment operates a foundation dedicated to expanding youth access to sports. The 61-year-old Texan is expected to engage with this initiative.
'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.'
Future Plans for Seattle Sports
One Roof Sports and Entertainment recently acquired a majority stake in Climate Pledge Arena, the Kraken's home venue. Holloway revealed to ESPN that the company is considering a bid for an NBA expansion franchise if the 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 finished the season with a 34-37-11 record and will pick seventh overall in this month's NHL Draft.
Background on the Gates Divorce
Melinda and Bill Gates 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 revealed that Bill made a nearly $8 billion payment to Melinda's foundation last year as part of the divorce settlement. However, their agreement is believed to be significantly more lucrative for both her and her organization, the Pivotal Philanthropies Foundation.
