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Davy Jones Locker Room
6 days
Melinda French Gates Becomes Minority Owner of the Seattle Kraken
Melinda French Gates is becoming a minority owner of the Seattle Kraken, the team’s parent company said Monday, pending approval from the NHL. The size of her stake and the terms were not disclosed. French Gates, 61, the philanthropist and ex-wife of Microsoft co-founder Bill Gates, is buying into One Roof Sports and Entertainment, the company that owns the Kraken. ESPN’s Emily Kaplan first reported the deal. French Gates is worth about $30 billion, according to Forbes, and the investment is her first ownership stake in a major professional sports team. She joins a group led by majority owner Samantha Holloway that includes minority investors David Wright, Amazon CEO Andy Jassy, and producer Jerry Bruckheimer. Holloway became majority owner in December 2024 after the death of her father, David Bonderman, the TPG co-founder whose group, Seattle Hockey Partners, won the expansion franchise. “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. Seattle is an engine of innovation in so many ways, and Samantha Holloway’s leadership of the Kraken and Climate Pledge Arena reflects that.” Holloway said in the statement, “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.” “It’s just time,” French Gates told ESPN. “What you’re seeing is a generation of women coming into their full power. I’ve walked into tough rooms, and being one of the few is very hard. Once we can create enough that we’re one of many, it just gets easier.” Though originally from Dallas, French Gates has lived in the Seattle area for nearly 40 years. She joined Microsoft in 1987, where she met Bill Gates, and worked on multimedia products before leaving in 1996. She co-chaired the Bill and Melinda Gates Foundation from 2000 until 2024 and now runs Pivotal, a Kirkland-based organization she founded in 2015 to support women and young people in the United States and abroad. One Roof Sports and Entertainment, created in March, owns the Kraken and controls Climate Pledge Arena, along with the Kraken Community Iceplex, the rebuilt Memorial Stadium, and the AHL’s Coachella Valley Firebirds. The group is pursuing an NBA expansion team for Seattle. What this means for the Kraken Nothing changes from a hockey operations standpoint. Jason Botterill will continue to be the GM, they are conducting an audit, they will pursue free agents and make draft picks and attempt trades and it will be business as usual there. The addition brings financial security. Though the NHL has a hard salary cap, Scouting, front office salaries, player development, analytics, facilities, and support staff are not subject to an NHL salary cap and can vary from organization to organization, depending on the owners’ willingness and ability to spend money. A group with French Gates’s money can cover all of that through a rebuild without needing the team to turn a profit, and won’t be forced to cut costs or tear the team down in a bad year. There is also a very expensive NBA bid going on. In March, the NBA’s Board of Governors voted to explore expansion in Seattle and Las Vegas, and Holloway’s group, advised by JPMorgan Chase and Moelis, is the only public Seattle bidder. The NBA hired PJT Partners to evaluate the markets, ownership groups, and arenas and the expansion fees is projected to be somewhere in the $6 to $10 billion range. French Gates is now an owner in One Roof, the group pursuing the NBA team, so her money is already behind that effort. Though we don’t know the extent of her stake, her fortune is several times the projected fee, and because the NBA weighs the strength of each ownership group, her name helps the Seattle bid. Her most visible impact will probably be in the community. The One Roof Foundation has focused on getting more kids into sports, and French Gates has spent her career working on opportunities for women and families. Holloway said, “We’re really aligned on that.” For the Kraken, the deal leaves them with a richer, steadier ownership group. For One Roof, it adds another prominent name as it tries to bring the NBA back to Seattle.
The Seattle Times
6 days
The UK government has set a target of an 87% cut in carbon emissions by 2042
The British government is sticking to its net-zero goal despite global conflicts affecting energy supplies.
The Seattle Times
6 days
The methodology of an AP-KFF Health News investigation into medical neglect at ICE detention centers
KFF Health News and The Associated Press have been investigating allegations of medical neglect from people detained by U.S. Immigration and Customs Enforcement during the second Trump administration.
The Seattle Times
6 days
From festering infections to untreated cancer, ICE detainees across the US describe medical neglect
Immigrant detainees across at least 33 states allege in court documents that the government is failing to provide them with adequate medical care.
The Seattle Times
6 days
Seattle philanthropist Bill Clapp dies at 84
Bill Clapp, who was once honored by the Dalai Lama, founded several philanthropic groups, including Global Washington and the Initiative for Global Development.
The Seattle Times
6 days
Here is Russell Wilson’s case to make Hall of Fame | Analysis
Russell Wilson hasn't retired, saying he's taking a "pause" as he reportedly is pursuing a TV career. If his playing days are over, is his next stop the Hall of Fame?
The Seattle Times
6 days
Battles over energy projects are erupting across Western WA
East of the mountains, solar and wind farms are common. But west of the Cascades, there's a new trend: massive battery storage facilities.
The Seattle Times
6 days
Here are the documents SPS says mandate keeping controversial principal
A letter from Seattle Public Schools' former superintendent promised Anitra Jones a job. Here's why the current superintendent says he must honor it.
The Seattle Times
6 days
After theft, Taproot Theatre’s summer saved by $400K in donations
Seattle's Taproot Theatre will move forward with its summer program after fundraising to repair air-conditioning units that were stripped for copper.
The Seattle Times
6 days
How Japan lost 3 million people in 5 years
The shrinking population is already constraining Japan’s economic growth, putting pressure on its healthcare system and causing labor shortages.
The Seattle Times
6 days
McDonald’s bets on fancier chicken, airier restaurants to keep luring diners
A key step is improving the McDonald's food lineup, including with tests of new chicken items to compete with chains such as Raising Cane’s, whose menu revolves around chicken fingers.
The Seattle Times
6 days
As Congo grapples with Ebola, volunteers cook up meals to support patients and health workers
Volunteers are supporting Congo's Ebola outbreak response with cooked meals in a program assisted by the U.N. food agency.
