Seattle Kraken Acquire Majority Stake in Climate Pledge Arena Ahead of NBA Expansion Meeting
Seattle Kraken owners announce acquisition of majority stake in Climate Pledge Arena, positioning the organization for potential NBA expansion with the return of a franchise to Seattle.
Photo Credit : © Joe Nicholson-Imagn Images
Seattle Kraken owners unveiled a new phase of their organization on Monday, just days before one of the most important meetings regarding the potential return of the NBA to Seattle. Samantha Holloway, majority owner of the Kraken, announced the creation of One Roof Sports and Entertainment, which will serve as the organization’s umbrella brand.
This new entity will oversee « a growing portfolio of properties and fuel new opportunities », according to Holloway. More significantly, One Roof Sports and Entertainment has reached an agreement to acquire additional shares of Climate Pledge Arena from Oak View Group, becoming the majority owner of the venue.
Strategic Positioning Before NBA Expansion Discussions
« We are committed to this community, and this parent brand brings together everything we’ve done, from a privately financed arena to the Seattle Kraken », Holloway stated. « Increasing our stake in Climate Pledge Arena allows us to consolidate operations and prepares us for future opportunities. »
The timing of this announcement is no coincidence. It coincides with NBA owners meetings this week, where a vote on formal expansion is expected. Tod Leiweke, CEO of the Kraken and now of One Roof Sports and Entertainment, confirmed this: « Why today? Because if you look at the stars, maybe they’re aligning. »
This transition to majority ownership of the arena has been in preparation for several months. OVG will retain a significant minority stake and continue its booking and venue management operations. However, this change gives One Roof Sports and Entertainment a considerable advantage in potential NBA negotiations.
Kraken owner Samantha Holloway has formed One Roof Sports to take control of Climate Pledge Arena, a massive power move just 48 hours before the NBA’s expected expansion vote to bring the Sonics back to Seattle, per @ChrisDaniels_TV pic.twitter.com/2CEH3WM0NA
— NBA Base (@TheNBABase) March 23, 2026
An Organization Ready for the Future
One Roof Sports and Entertainment will now oversee the Kraken, Climate Pledge Arena, the One Roof Foundation, the Kraken Community IcePlex, and the organization’s interests in the AHL’s Coachella Valley Firebirds. « I believe our best days are ahead of us. And I believe One Roof Sports and Entertainment is incredibly well positioned for the opportunities to come », Leiweke emphasized.
Holloway had previously expressed her intention to participate in conversations regarding the possible return of the SuperSonics once the NBA gave the green light for expansion discussions. With this majority acquisition of Climate Pledge Arena, the organization is ideally positioned for these crucial negotiations that could redefine Seattle’s sports landscape.
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With a background in sports management, Nicolas Flamecourt covers NBA news with a particular passion for the North American league, which he has been following for several years. He also covers the NCAA, including news and scouting of future prospects, and regularly conducts interviews with French players as well as players competing in Europe.
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