SEATTLE, WASHINGTON – APRIL 28: Co-owner Samantha Holloway of the Seattle Kraken speaks to fans in Game Six of the First Round of the 2023 Stanley Cup Playoffs against the Colorado Avalanche at Climate Pledge Arena on April 28, 2023 in Seattle, Washi (Steph Chambers / Getty Images)
SEATTLE – Kraken owner Samantha Holloway will lead a group to bid on an expansion franchise with the NBA after the league announced they will officially explore expansion to Seattle and Las Vegas on Wednesday.
“We started this journey eight years ago intentful to bring the NBA back, and we are going to lean in,” Kraken CEO Tod Leiweke said. “The announcements we made earlier in the week were all laying the groundwork, and we’re excited. And if we’re fortunate enough someday to bring it back and help lead, we’ll do it the same way, in the same fashion we’ve done everything else: fans, community and with passion for this place we live.”
It certainly doesn’t seem to be a coincidence that the Kraken announced they had acquired a majority ownership stake in Climate Pledge Arena on Monday ahead of the NBA’s Board of Governors meeting in New York City when expansion plans will be on the table.
The team announced the creation of One Roof Sports and Entertainment on Monday to serve as the umbrella company for all the group’s sports assets, which include the majority ownership stake of Climate Pledge Arena, Kraken Community Iceplex, One Roof Foundation, the Coachella Valley Firebirds and Acrisure Arena in Palm Desert, and the Memorial Stadium renovation project.
The group having control of the arena will certainly help their prospects. Any separate group that bids on a team would then need to negotiate a lease with One Roof S&E to play at Climate Pledge Arena, or build a separate arena altogether. That’s not a problem for the Kraken’s bid.
Climate Pledge Arena has locker room space already set aside for NBA teams, though the locker rooms themselves would need to be built out to accommodate the teams. Additionally, a training facility and an affiliate for the G-League will be among the priorities for an ownership group to solve as well.
“We’re battle-tested. The hardest part of this is now done, and it evaded this community for 15 years,” Leiweke said of having a suitable modern arena. “And the debate went on well before the departure of the Sonics. So this has been a debate that’s gone on since, you know, 2000. It’s gone on for a long, long time.
“And it took courage. You know, facilities have been funded by the public. To do this privately, required courage and brought pressure, but we did it, and we didn’t cut a corner. And we did it because we wanted to get to moments like this, defining moments where you can say we are ready, and we are. I represent an amazing organization that’s done amazing things, and we’re not done yet.”
Leiweke wouldn’t get into specifics about any additional partners they may have as part of their bid plans with the NBA. He did express considerable belief in Holloway to be the right person to lead their efforts to bring the Sonics and NBA basketball back to the Emerald City.
“I think that what we will do is we will put together a bid that has it all,” Leiweke said. “And I would say the most important thing in our bid is the ability to do it and do it well. And that’s going to be very important for the NBA if ultimately they push ahead and want to expand, they’re going to want to make sure that it’s done well, that there’s no drama, that there’s no slips, there’s no mistakes, and to be honest with you, the confidence I feel in our ownership group, we’ve not made any mistakes.
“Our track record is fantastic, and I’m super proud of it. I’m super proud of Samantha, our building is ready, and most importantly, the fans are ready.”
Holloway is the daughter of original Kraken principal owner David Bonderman, who was well known in the NBA as a minority owner of the Boston Celtics prior to his death in 2024 and the franchise being sold last year.
“If you really look at what we’ve stood for, I couldn’t be more proud,” Leiweke said. “There are things that she believes in and one reason that she has been a great boss and we get along so well is we do have shared values, and we care a lot about those kinds of issues. When that day comes, if that day comes, it will be one of the most proud days of my career. And it’s exciting.
“She is full of energy, full of life, and she is very, very capable. The ability to do what we’ve just done, gaining additional control of the arena, while ensuring that our partnership with (Oak View Group) was brilliant and intact, took touch. She did it. She is really a remarkable person, and our relationship with OVG has never been better.”
Wednesday’s vote in New York was to formally explore adding two new expansion teams in Seattle and Las Vegas to begin play in the 2028-29 season. A vote to formally move forward with expansion likely won’t come until at least the next NBA Board of Governors meeting in Las Vegas in July, which has long been home to the NBA’s Summer League and the championship game of the NBA Cup the last three seasons.
The NBA has also stated its intention to expand into Europe with a new league that will be in partnership with the International Basketball Federation (FIBA). One aspect of the decision to explore domestic expansion could be to finance the league’s plans in Europe. By expanding the league by two teams at a price tag of potentially $6 billion or more apiece between the two cities, the existing NBA owners could invest in their European plans without taking any money out of their own pockets.
The trade-off would be slicing the league’s revenue pie an additional two ways in going from 30 teams to 32 teams.
Though nothing is set in stone yet, the return of the NBA to Seattle has never been closer and Leiweke is happy to be with Holloway leading their efforts.
“It’s an incredible thing to dream about. The first team that was here and made Seattle big-time left, and to bring it back, incredible,” he said.
The Source: Information in this story came from FOX 13 Seattle reporting.
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