u/Kyunseo

> "The incremental moves in the pursuit of an NBA expansion team in Seattle has taken another small step.

> Kraken majority owner Samantha Holloway has retained investment banks JPMorgan Chase & Co. and Moelis & Co. to work as advisers on the NBA expansion efforts.

> Bloomberg first reported the move on Wednesday, which was later confirmed by a spokesperson for Holloway and One Roof Sports and Entertainment.

> It’s another of the minor actions being made behind the scenes on a potential financial transaction that could land upward of $8 billion in an expansion fee in order to see the return of the SuperSonics and the NBA to Seattle.

> Last week, NBA Commissioner Adam Silver told a gathering of sports editors in New York that PJT Partners — the investment bank retained by the league to help examine bids — had started to engage with potential ownership groups in Seattle and Las Vegas. Silver added that he did not think the process on examining the bids would move fast enough for the NBA owners to make a decision on expansion by the time they gather this summer in Las Vegas for their next scheduled owners meetings.

> Silver does still believe the league will make a final decision on whether to expand before the end of the calendar year.

> To date, Holloway and One Roof is the only publicly known group that is preparing an expansion bid for Seattle, despite reports stating there were multiple groups in both cities. Holloway launched One Roof in March as the parent brand overseeing the Kraken, the Kraken Community IcePlex, the organization’s foundation and the redevelopment of Memorial Stadium.

> The launch of One Roof came just days before NBA owners voted to approve a formal expansion process by the league focused specifically on Seattle and Las Vegas with the goal of a decision being made sometime in 2026 and, if approved, those franchises starting as soon as the 2028-29 season."

Link: https://www.seattletimes.com/sports/sonics/samantha-holloway-hires-financial-advisers-for-nba-expansion-bid/