Second Seattle NBA Bidder Partners With Tulalip Tribes
BlackSun Private Equity, a second bidder for an NBA expansion team in Seattle, has partnered with the Tulalip Tribes to plan an arena on tribal land north
A second bidder has emerged for an NBA expansion franchise in Seattle. BlackSun Private Equity, a New York-based firm, is partnering with the Tulalip Tribes to construct an arena on tribal-owned land near Marysville, Washington, if its bid succeeds.
Nick Rathod, BlackSun's chief global strategy and communications officer, confirmed the partnership to The Athletic. He positioned the bid as fan-driven and distinct, centered on partnership with the region's original inhabitants. "Our hope is that the fans really are the drivers of this," Rathod said. "We want to center the local community and get feedback from the local community."
The Arena and Location Plan
The proposed arena would be built on Tulalip Tribes land near Marysville, a town roughly 35 miles north of Seattle. The location presents a significant commute challenge for fans coming from Seattle and areas south like Tacoma, especially during rush hour.
Rathod acknowledged this hurdle. The group is studying a comprehensive mobility plan to make travel feasible. "We are not going to ask people to take 41 trips to a venue without a credible mobility plan," Rathod stated. Plans under examination include analyzing highway capacity, regional transit, dedicated game transportation, a park-and-ride system, and shuttles. The vision extends beyond the arena to an entertainment district, aiming to create a destination.
Contrasting Ownership Models
Rathod criticized recent high-profile NBA ownership transactions, implicitly contrasting them with BlackSun's community-focused approach. He referenced Mark Walter's agreement to sell the Los Angeles Lakers just 14 months after purchasing the team, alongside a federal investigation into alleged financial improprieties involving Walter's insurance companies.
"That was a couple billionaires passing this franchise around like it was a rental property," Rathod told reporters. "For fans and teams, that's just terrible." His comments show the bid's stated goal of ensuring a new franchise remains in the Pacific Northwest permanently, unlike the Seattle SuperSonics who left in 2008.
Financial Capacity and Competition
BlackSun CEO Atonn Muhammad told the Seattle Times the group can assemble enough investors to support a bid worth up to $8.1 billion. This establishes the financial foundation for their expansion pursuit.
The only other publicly known bidder is One Roof Sports and Entertainment, led by Samantha Holloway, who is the majority owner of the NHL's Seattle Kraken. According to industry sources speaking to reporters, One Roof Sports also holds a stake in Climate Pledge Arena, located just north of downtown Seattle.
Holloway has expressed a measured view on adding an NBA team. "If done the right way, an NBA team is additive," she told reporters earlier this year. She emphasized the importance of first establishing the Kraken brand, suggesting the timing is now suitable for a complementary basketball addition.
The emergence of two distinct bids-one anchored in a tribal partnership north of the city and another linked to the existing Kraken infrastructure downtown-sets the stage for a competitive process. The NBA will make the final decision on any expansion.
