Kraken owner Samantha Holloway hires investment banks for NBA expansion bid
Seattle Kraken owner Samantha Holloway is readying her hand for an NBA expansion bid.
A spokesperson for Holloway on Wednesday confirmed she and the rest of the Kraken ownership group, the newly dubbed One Roof Sports and Entertainment, have hired JPMorgan Chase & Co. and Moelis & Co. as investment banks on the bid to bring the Sonics back to Seattle. Holloway is so far the only known bidder for the team, which could fetch between $7 billion and $10 billion, according to some reports.
Bloomberg first reported the investment bank hires. Investment banks help sellers find and vet potential buyers, making sure they have the necessary funds for a multibillion-dollar purchase. The banks help buyers find other rich parties to fill out the ownership group.
J.P. Morgan, the investment bank and corporate finance arm of the banking giant, has been involved in major sports transactions with the Boston Celtics and Manchester United. Moelis helped sell a minority stake in the New York Giants, and the Seattle Sounders in October said they had hired Moelis to explore selling a stake in the team.
https://www.bizjournals.com/seattle/news/2026/05/06/kraken-holloway-sonics-jpmorgan-chase-moelis.html
This seems excessive, $7 billion to $10 billion is what most NFL teams cost.