Melinda French Gates, philanthropist and former wife of Microsoft founder Bill Gates, has agreed to purchase a minority ownership stake in the NHL's Seattle Kraken, according to league sources. The deal, subject to NHL Board of Governors approval expected this spring, makes French Gates the franchise's first addition to its ownership structure since the team began play in October 2021. Financial terms were not disclosed.
The Kraken launched with a $650 million expansion fee paid by majority owner David Bonderman's group in 2018. The franchise is now conservatively valued at $1.1 billion by Sportico, placing it 19th among the league's 32 teams despite playing fewer than three full seasons. French Gates joins an ownership table that includes Bonderman (Oak Investment Partners), Jerry Bruckheimer (film producer), and Amazon executive Andy Jassy, though her exact percentage remains undisclosed. The team is operationally run by CEO Tod Leiweke, whose family also holds equity.
French Gates controls an estimated $30 billion after her 2021 divorce settlement from Bill Gates, who retained no involvement in professional sports franchises. Her entry into hockey ownership follows a pattern among tech-adjacent billionaires seeking primary-market exposure in Seattle, a city experiencing rapid wealth concentration but limited major-league inventory. The Kraken play at Climate Pledge Arena, a $1.15 billion renovation financed partly by Amazon's naming-rights deal worth a reported $300 million over 20 years. French Gates' Pivotal Ventures investment office has previously backed consumer brands and media properties but held no disclosed sports assets until now.
The timing matters for three reasons. First, the NHL is finalizing its next U.S. media rights package, with Turner and ESPN deals expiring in 2028. French Gates' networks in tech and philanthropy could prove useful if the league pursues streaming-platform partnerships or purpose-driven sponsorship tiers. Second, the Kraken are building out their business operations after a turbulent first season that saw them miss playoffs and replace general manager Ron Francis's entire front office. A high-profile investor with Seattle civic ties provides continuity as the franchise stabilizes. Third, French Gates' involvement establishes a precedent for post-divorce billionaires deploying capital into sports ownership, a category that includes MacKenzie Scott (ex-wife of Jeff Bezos, who owns the Washington Commanders) and potentially others from the 2020-2024 divorce wave among ultra-high-net-worth individuals.
The NHL typically requires 75% board approval for new limited partners. French Gates' application is expected to pass without opposition given her financial standing and lack of conflicts. The league has encouraged ownership groups to add diverse investors, and French Gates would become one of fewer than 10 women holding equity in NHL franchises. Her stake does not grant board seats or operational authority but positions her inside the ownership group for future governance discussions, including potential stadium refinancing or naming-rights renegotiations when Amazon's deal comes up for renewal in the early 2030s.
Watch for French Gates' first public appearance at Climate Pledge Arena, likely during a marquee home game against an Original Six opponent in March or April. The Kraken have four nationally televised games remaining this season. Separately, monitor whether Pivotal Ventures begins making minority investments in women's hockey properties, including the Premier Hockey Federation, which is exploring franchise sales in its seventh season. French Gates' team declined comment on future sports allocations, but her involvement in Seattle hockey opens the door to downstream capital deployment in adjacent categories where franchise fees remain under $10 million and upside is unproven but directionally positive.
The takeaway
French Gates adds **$30B** balance sheet to Kraken ownership, giving Seattle's newest franchise tech-world credibility ahead of 2028 media-rights negotiations.
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