SEATTLE (AP) — Melinda French Gates, a billionaire philanthropist and businesswoman, will join the Seattle Kraken as a minority investor, pending NHL approval.
French Gates, 61, is the ex-wife of Microsoft co-founder Bill Gates. She and her $30 billion net worth, according to Forbes, join an ownership group headlined by majority owner and managing partner Samantha Holloway, as well as investors David Wright, Andy Jassy and longtime Hollywood producer Jerry Bruckheimer.
“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.”
French Gates has never previously had an ownership stake in a major professional sports franchise. She will do so at a time when the Kraken ownership group is positioning itself to own an NBA franchise should the NBA return to the Emerald City for the first time since the SuperSonics were relocated to Oklahoma City nearly 20 years ago.
In March, the Kraken ownership group announced the creation of One Roof Sports and Entertainment, which serves as the umbrella brand of the organization to “oversee a growing portfolio of properties and fuel new opportunities.” At the time, Holloway announced that One Roof would pursue an NBA team in Seattle, should the league move forward with expansion.
Holloway also announced in March that the group had entered an agreement to purchase additional equity in Climate Pledge Arena from Oak View Group, and would make the organization the majority owner of the building. OVG has retained a minority stake.
French Gates, who grew up in Dallas and received a bachelor’s degree in computer science and economics, as well as an MBA from Duke, currently heads Pivotal, a group of organizations she founded to accelerate the pace of social progress for women and young people in the United States and around the world.
French Gates previously founded and co-chaired the Gates Foundation, the world’s largest philanthropy.
“I am excited to welcome Melinda to our ownership group,” Holloway said in a 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.”
AP NHL: https://apnews.com/hub/nhl
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