Who Owns the Sacramento Kings
The Maloof family, led by brothers George and Joe Maloof, previously held primary ownership of the Sacramento Kings NBA franchise. The Maloofs acquired the team, then the Kansas City Kings, in 1998 and relocated the franchise to Sacramento in 1985, where they operated the team for over a decade. During their tenure, the Maloofs managed the team's business operations, arena negotiations, and branding, making them a central figure in Sacramento sports history Sacramento Kings ownership history.
In 2013, the Maloofs sold a controlling majority stake in the Kings to a group led by Vivek Ranadivé, ending their direct ownership. The sale price was approximately $535 million, marking a major transaction in NBA franchise sales. The Maloofs retained some minority interests initially but gradually reduced their stake, shifting focus to other business ventures and investments NBA.com Kings sale details.
Maloof Family Net Worth and Business Portfolio
The Maloof family's net worth has been estimated by Forbes and other financial outlets to be in the hundreds of millions, derived from real estate, casino investments, and sports holdings. George Maloof and Joe Maloof built their initial wealth through the Maloof Companies, a private conglomerate with interests in hospitality, real estate development, and entertainment venues across the western United States.
Beyond the Kings, the Maloofs have been involved in the Palms Casino Resort in Las Vegas, a property they owned and operated for years before selling it. They have also invested in professional sports, including a stake in the now-defunct Las Vegas Outlaws and interests in other entertainment and hospitality businesses. The family's investment portfolio reflects a pattern of high-profile, asset-heavy acquisitions in competitive markets Maloof business profile on Forbes.
Current Status of Maloof Family in Sports and Business
As of the latest public records, the Maloof family no longer holds a controlling ownership position in the Sacramento Kings, which is now led by Vivek Ranadivé and a group of investors. The team has continued to operate under new ownership, with ongoing developments around the planned new arena in Sacramento. The Maloofs' departure from the Kings marked a transition in the franchise's leadership and strategic direction Sacramento Kings current ownership updates.
The Maloof family remains active in private business and real estate, with the Maloof Companies continuing to manage various assets. Their legacy in the NBA is often discussed in the context of franchise sales, arena funding debates, and the evolution of team ownership models. Public records and SEC filings related to their business entities provide insight into their ongoing financial activities, though the family maintains a lower public profile compared to their period of active NBA ownership SEC Edgar company search for Maloof entities.