Melinda French Gates buying minority stake in Kraken

Billionaire philanthropist Melinda French Gates is acquiring a minority ownership stake of the Seattle Kraken, the franchise announced Monday.

Terms of the deal, which is pending NHL approval, were not disclosed.

The partnership pairs French Gates, the ex-wife of Microsoft founder Bill Gates who has a net worth of $30 billion according to Forbes, with the Kraken's ownership group (One Roof Sports and Entertainment), which is helmed by Samantha Holloway.

"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 press release. "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. Seattle is an engine of innovation in so many ways, and Samantha Holloway's leadership of the Kraken and Climate Pledge Arena reflects that."

"I am excited to welcome Melinda to our ownership group," Holloway added in the press release. "Melinda is an impressive business leader, philanthropist and importantly, a Seattle sports fan. We share many of the same values, including a deep commitment to Seattle and a belief in building organizations that create lasting impact."

The Kraken have made the playoffs just once in their first five campaigns since debuting for the 2021-22 season. The franchise hired a consulting firm, the Sportsology Group, in May to perform an external audit of the team's hockey operations department.

--Field Level Media