SEATTLE, WASHINGTON - OCTOBER 28: A general view outside Climate Pledge Arena before the game between the Seattle Kraken and the Montréal Canadiens on October 28, 2025 in Seattle, Washington. (Steph Chambers / Getty Images)
SEATTLE - The ownership of the Seattle Kraken announced the creation of One Roof Sports and Entertainment on Monday, an umbrella corporation that will oversee the group's current sports portfolio with an eye toward a possible NBA expansion franchise.
The team has acquired a majority ownership stake in Climate Pledge Arena from the Oak View Group, which will continue to operate the venue. In addition to the Kraken and the arena, Kraken Community Iceplex, One Roof Foundation, the Coachella Valley Firebirds and Acrisure Arena, and the Memorial Stadium project will all now fall under the One Roof S&E corporation.
"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," Kraken owner Samantha 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."
What's next:
Kraken CEO Tod Leiweke has said repeatedly in recent years that the group would be ready to pursue an NBA expansion when the opportunity arises. That chance could come this week as the NBA is set to discuss expansion to Seattle and Las Vegas during league meetings in New York City.
"It is the right thing to do by way of our fans," Leiweke said on Monday in regard to the new company and ownership stake in Climate Pledge Arena. "It's the right thing to do by way of our dreams going forward, what we hope there could be a big moment forthcoming, and we're going to be ready.
"We've had a phenomenal partnership with OVG. We set out shoulder-to-shoulder to do something that was unprecedented on so many levels, unprecedented in being 100 percent privately financed, unprecedented in saving a historic landmark, recognized nationally but also locally, and we did it together."
Ownership of Climate Pledge Arena has been a public-private partnership between the Kraken, OVG, and Seattle Center. The majority ownership stake now resides with the Kraken as they operate it under the new One Roof collective.
Leiweke previously served as the CEO of Vulcan Sports and Entertainment, which is a similar corporation that houses the Seahawks, Sounders and Portland Trail Blazers ownership interests for Paul G. Allen. After stints with the Tampa Bay Lightning and the NFL league office, Leiweke returned to Seattle to head NHL to Seattle efforts and a future possible NBA return.
"I've had the privilege the last eight years to come back to a place I love, to do things I love. To serve these fans, to serve the community," Leiweke said. "And I always thought that our best days were in front of us. I'm here to reiterate I believe our best days were in front of us, and I believe that one roof sports and entertainment is incredibly well positioned for opportunities that are forthcoming."
Having primary ownership of the arena could help the Kraken group in their pursuit of an NBA expansion franchise as Climate Pledge Arena remains the only viable NBA arena in the region. Any other bidders that could get involved would need to negotiate with One Roof S&E to play in Climate Pledge Arena, or build a separate arena for the team (presumably named the Sonics) to play in.
Additionally, 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.
The NBA still needs to formally make a decision to pursue expansion teams, but the Kraken ownership group appears ready to step forward if that decision is made.
"If you look at the stars, maybe they're aligning, and this is the right thing. … It's going to make us better today, and it's going to position us going forward," Leiweke said.
The Source: Information in this story came from the Seattle Kraken and FOX 13 Seattle reporting.
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