The Seattle Kraken are officially free to make trades and sign players after making their final expansion payment to the NHL, ESPN reports.
Seattle owners paid $650 million to become the 32nd franchise and the team begins play next season.
NHL commissioner Gary Bettman officially welcomed the Kraken to the NHL as the newest member club.
“Congratulations to David Bonderman, the Bonderman family, their partners, the entire Seattle Kraken organization, the city of Seattle and Kraken fans as the club continues on its exciting journey towards puck drop in October,” Bettman said.
“Today is another momentous day on the journey to puck drop,” said David Bonderman, Seattle Kraken majority owner. “I would like to thank [NHL Commissioner] Gary Bettman and the NHL for welcoming us to the league.