Kraken assume majority ownership of Climate Pledge Arena

SEATTLE –The Seattle Kraken ownership group, led by Samantha Holloway, announced the creation of One Roof Sports and Entertainment on Monday.

One Roof Sports and Entertainment will serve as the umbrella brand of the organization to “oversee a growing portfolio of properties and fuel new opportunities.”

Holloway also announced the group has entered an agreement to purchase additional equity in Climate Pledge Arena from Oak View Group, and will make the organization the majority owner of the building. OVG will retain a minority stake.

“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.”

The transition of ownership of Climate Pledge Arena has been in the works for several months. The announcement also coincides with the upcoming NBA Board of Governors meeting in New York later this week.

The NBA’s governors will vote on a plan to go forward with the next step of expansion — which is expected to be focusing on talks with prospective ownership groups who want to bring teams to Las Vegas and Seattle. Washington Gov. Bob Ferguson said he met with NBA commissioner Adam Silver on Monday.

It has long been believed that those are the cities that will get teams if the NBA chooses to expand. Seattle has been clamoring for the NBA’s return since the SuperSonics were relocated to Oklahoma City nearly 20 years ago.

“I had a productive Zoom meeting this afternoon with Commissioner Silver,” Ferguson posted on social media. “It remains a top priority for me to bring back the Sonics.”

Silver has also met with Nevada Gov. Joe Lombardo in recent days about the expansion topic. The vote in New York this week will not guarantee that the NBA adds franchises, but will move the league one step closer and show that the current ownership groups at least have some interest in adding to the current 30-team setup.

According to Monday’s statement, One Roof Sports and Entertainment will oversee the Kraken, Climate Pledge Arena, the Kraken Community Iceplex and the organization’s interests in the Coachella Valley Firebirds of the AHL and Acrisure Arena in Palm Desert, California.