Maloof Family 14th Season as Kings Majority Owners
The Maloof family enters its 14th season as majority owners of the Sacramento Kings, marking the longest ownership tenure of any group in the franchise's 65-year history as members of the National Basketball Association. During those 14 seasons, the Kings have qualified for the NBA Playoffs seven times, including back-to-back Pacific Division titles in 2001-02 and 2002-03 and advancement to the Western Conference Finals in 2002.
The Maloofs also owned the Houston Rockets for three seasons between 1979-82, qualifying for the NBA Playoffs all three seasons and advancing to the 1981 NBA Finals. The family's 17-year history of NBA majority ownership ranks as the 12th longest among the league's 30 active owners.
Even more impressive than the family's competitive accomplishments has been Maloof Sports & Entertainment's significant impact within the community. The Maloof family's business philosophy strongly incorporates the idea of making a meaningful difference in the lives of families in need and at risk. Over the last 13 years, Maloof Sports & Entertainment has donated and distributed more than $20 million to a variety of charitable causes in the Sacramento region through cash donations and in-kind gifts.
The family's dedication to community service earned Joe and Gavin Maloof the World Sports Humanitarian Hall of Fame's Most Involved Executives award for 2001. In addition, the organization's work was recognized with the Pro Team Humanitarian Award in both 2002 and 2004.
Striving toward the goal of providing complete customer and employee satisfaction, Maloof Sports & Entertainment works under the vision statement of "a championship-caliber team of people committed to the highest level of performance, service, quality, innovation, community involvement, and winning relationships."
"Our family lives by two Maloof business philosophies: Cater to our customers and take care of our employees," states Joe Maloof.
The Kings and Maloof Sports & Entertainment are always exploring ways to enhance the entertainment value of Kings Season Ticket Holders and fans. In the 2000-01 operating budget, the company earmarked $1 million for training, services, and equipment designed to improve customer service and satisfaction. The investment paid immediate dividends, as the Kings ranked first in the NBA in overall fan experience in 2001 and 2003 in a league-wide survey conducted every other year by J.D. Power and Associates.
The Maloofs' marketing and promotion innovation is seen throughout the sporting world. The Maloof Money Cup is widely recognized as the premier skateboarding contest, having awarded millions of dollars in prize money to the sport's upper echelon competitors since the inaugural event in Orange County in 2008. Eight Maloof Money Cup events have been held in all, including stops in New York City, Washington, D.C., Orange County, and Kimberley, South Africa, and the contest has plans to expand to even more international cities in the years to come.
Additionally, the Maloofs have had an imprint on a number of other sporting events over the years. The family's production company, Sweeping Palms Entertainment (led by Phil Maloof) with 25/7 Productions, currently serves as producers of the NHL's annual year-end awards banquet, and in 2007 the Maloofs were instrumental in spearheading Las Vegas' successful bid to host the 2007 NBA All-Star Weekend.
From 1999 to 2009, the Maloofs were one of the most successful ownership groups in the WNBA, guiding the Sacramento Monarchs to nine playoff appearances, two Western Conference Championships, and the 2005 WNBA title.
Having also contributed to promoting several other sports over the years, including football, soccer, boxing, and collegiate athletics, the Maloof family in 2007 was recognized as one of the 100 Most Influential People in the World of Sports by BusinessWeek.
Celebrated Return to Professional Sports
The Maloof family's interest in purchasing the Kings franchise originated in 1997 when they contacted then Managing General Partner Jim Thomas regarding the availability of the team and arena. On January 14, 1998, the Maloofs completed the purchase of a minority limited partnership in the organization's franchises (Kings and WNBA's Monarchs) and arena (then ARCO Arena). Although both the Kings and Monarchs suffered through subpar seasons in 1997-98, the Maloofs continued their pursuit of primary ownership and on January 15, 1999, subsequently purchased controlling interest, effective July 1, 1999. The NBA Board of Governors unanimously approved the ownership transfer on May 7, 1999, in New York, at which time the Board of Governors appointed Joe Maloof to the Board. The official closing of the ownership transaction took place on July 1, 1999.
Their purchase of the Kings returned the Maloofs to the NBA after a 17-year absence during which the family eagerly pursued an opportunity to rejoin the league. Owners of the Houston Rockets from 1979 through 1982, the Maloofs watched their Rockets rise to elite status, advancing to the NBA Finals for the first time in the team's history in 1981. In fact, Houston's 1981 Finals appearance coupled with the Kings' advancement to the 2002 Western Conference Finals makes the Maloof family the only ownership group in NBA history to take two different franchises to the Western Conference Finals.
Following the death of their father, George Maloof, Sr., in 1980, Joe and Gavin Maloof, who were only in their mid-20's at the time, took over responsibility for the Rockets along with their mother, Colleen, their two younger brothers, George, Jr. and Phil, and their sister, Adrienne. The added responsibilities of continuing the growth of the family business forced the Maloofs to sell the Rockets in 1982, but George Maloof's original passion for NBA basketball has always remained with the family.
A 100-Year Model for Diversified Business Success
The Maloof Companies are a diversified group of business ventures including hotels, casinos, banking, clothing, music, television and film production, food and beverage, and sports entertainment headquartered in Las Vegas, Nevada.
The Maloof family history in the United States dates back to 1892 when Joe Maloof I opened a small general store in northern New Mexico. By the 1930s, the Maloof family acquired the distribution rights to Coors Beer and in 1937 subsequently established Quality Imports, a wholesale fine liquor distribution center. When Joe Maloof I suffered a major heart attack in 1944, his son, George J. Maloof, left his studies at the University of Colorado to assume responsibility of the Maloof Companies at the age of 21.
George J. Maloof successfully expanded the family business into a group of diversified companies, moving into the hotel and banking sectors in the 1970s. In 1979, responding to his love for sports and competition, Maloof purchased the majority ownership of the Rockets. However, just two years later during the Rockets' rise to the upper echelon of the NBA, Maloof passed away at the age of 57. His wife, Colleen, assumed control of the entire Maloof operation and rather than selling off the company assets, she enlisted the assistance of her five children. Under Colleen Maloof the family expanded their beer and liquor distribution operations and later opened their first gaming property in 1992. From 1990 to 1992 the family also owned the Birmingham Fire of the World League of American Football.
In 1994, the family invested in a small piece of property in North Las Vegas, building the quaint 30,000-square foot, 100-room Fiesta Casino Hotel. After a pair of expansive renovations, the 75,000-square foot Fiesta became one of the most profitable hotel casinos per square foot in the entire state of Nevada. In fact, in an August '99 edition of the USA Today, the Fiesta Casino Hotel was voted one of the world's 10 greatest gambling destinations, ranking with the likes of the Bellagio and Caesars Palace in Las Vegas and the Trump Taj Mahal Casino Resort in Atlantic City.
In July of 2000, the Maloof family sold their operating interest in the Fiesta Hotel Casino, and immediately began construction of the Palms Hotel and Casino, which opened for business on November 15, 2001. The Palms instantly became an iconic property in Las Vegas under the leadership of George Maloof, attracting the world's most well-known celebrities with its outstanding customer service, unique architecture, and award-winning restaurants, entertainment, nightlife, and amenities.
Before selling controlling interest of the Palms in 2011, the Maloofs hosted a number of mega events at the property, including the 2007 MTV Video Music Awards, the "Ocean's Thirteen" movie premiere, and 2007 NBA All-Star Weekend player activities.
The Maloofs' latest venture is actually a return to their past. Partnering with the nation's largest liquor and wine distributor, Southern Wine & Spirits (approx. 11,600 employees operating in 35 states), the family is launching Zing Vodka, a premium vodka highlighted by its red velvet flavor and unique bottling. Southern Wine & Spirits Chairman and CEO Harvey Chaplin has been a Maloof family friend for nearly four decades and was a cherished business partner of the late George Maloof, Sr.
Now the Maloofs have reunited with the iconic Mr. Chaplin and his son, Wayne Chaplin (President and COO), to launch what promises to be one of the most highly-anticipated new spirits for 2013.
Adrienne Maloof, a starring cast member on Bravo's record-setting show "The Real Housewives of Beverly Hills," also has a number of successful businesses in fashion and accessories. In 2011 she launched the Adrienne Maloof designer shoe collection by Charles Jourdan, and it was an immediate success that can now be found throughout the U.S. She is also the inventor and chief marketer for OMG phone cases, the first-ever interactive, color-changing LED lighted phone case.
In the 100-plus years that have defined the Maloof Companies, customer service and a strong work ethic combined with energy and vision are the qualities that have built this one-time general store into a business model for diversified success.
"The days of my grandfather's general store to our entire operation now, the Maloof family business philosophy always has been centered around complete customer and employee satisfaction," says Gavin Maloof.
Joseph Maloof is President of the Maloof Companies. Joe's business expertise and leadership qualities have helped enhance and diversify the corporation's growth since his father's death in 1980.
Joe manages the Maloof Companies' nearly 3,500 employees with an open door policy, much like his father did more than 30 years ago. He also believes in treating customers in a first-class manner and with the utmost respect, and is often seen talking and listening to the fans and customers of the various family businesses.
"My father's business philosophy of taking care of our customers and employees was successful long ago, and all of us in the family have chosen to manage with that same style," states Joe.
His extensive expertise in management, sales, and marketing has been invaluable during the company's expansion into banking, hotels, sports marketing, and gaming over the past 30 years. In May of 1999, he was appointed to the NBA Board of Governors by Commissioner David Stern after the Maloof family was unanimously approved by the
Board to assume controlling interest of the Kings.
Like all of his family, Joe's charitable efforts are an important aspect of his personal and professional
life. He has assisted countless community service groups through the years, including the Boys Club, the University of New Mexico, the American GI Forum, the Airport Little League, and the League of Latin American Citizens, to name just a few.
He has a passion for competition, stemming from his days as a prep and collegiate athlete. He was MVP of his high school basketball team at Lawrenceville Prep School (Lawrenceville, N.J.), and was a two-time letterwinner as a defensive back at the University of New Mexico, where he graduated in 1979 with a degree in business.
Joe resides in Sacramento less than two miles from Sleep Train Arena. He enjoys working out and hanging out with his dogs.
As Vice Chairman of Maloof Companies, Gavin Maloof assists in all aspects of the family's diversified business ventures while overseeing the company's sports and entertainment operation. He is dedicated to maintaining and building the corporation's national and international prominence and spearheading a new era of growth for the company.
Although Gavin is relatively young in terms of professional sports and entertainment ownership, his experience is extensive. Following the death of his father, George J. Maloof, Sr., in 1980, Gavin was named president of the Houston Rockets at the age of 24, making him the youngest owner and operator in major professional sports history. The Rockets enjoyed immediate success under Gavin's leadership, advancing to the NBA Finals for the first time in franchise history in 1981. With the likes of Moses Malone, Calvin Murphy, and Elvin Hayes, the Rockets qualified for postseason play in all three seasons under the Maloof family ownership.
In addition to his front office management with the Rockets, Gavin also served as team president
during the Maloof's tenure as owners of the Birmingham Fire of the World League of American Football (WLAF) from 1990-92.
Gavin has always placed an importance on his community service work. Over the years he has served on the board of directors for several charitable causes, including those focusing on the well-being of children.
An active sports fan and participant, Gavin was an outstanding football player at the New Mexico Military Institute in Roswell, N.M., and at Trinity University in San Antonio. He graduated from Trinity in 1979 with a speech and communications degree. Last year he was inducted into the New Mexico Military Institute Hall of Fame as one of the school's most successful graduates, an honor bestowed on only a handful of people in the school's long history.
Gavin resides in Sacramento less than two miles from Sleep Train Arena. He enjoys playing golf in his spare time.
Chair of the Board, Maloof Companies
Trustee for the Estate of George J. Maloof
Colleen J. Maloof is chair of the board of the Maloof companies and trustee for the estate of George J.
Maloof. Throughout the key years that George Maloof built the Maloof Companies into the largest group
of family-owned enterprises in New Mexico, Colleen was an instrumental partner in their prosperity.
Faced with the challenge of carrying on the family tradition of success after her husband's passing, she
has grown the Maloof Companies as never before.
Colleen Maloof is a major force behind the family's continued strength and the Maloof's corporate and
civic leadership. She is a leader in her community and has received a number of honors and awards,
including the Associated Students of University of New Mexico Award for Dedication and Service,
Mexican-American Foundation of America Women of the Year Award, and the Image de Albuquerque
Award, which was presented to the Maloof family for their significant contributions to Hispanic business
development.
Colleen has played a pivotal role in developing the "Maloof style" managerial skills of her children,
Joe, Gavin, George Jr., Phil, and Adrienne. She has worked to ensure that company policies and practices
remain true to the family motto, "The Customer is King."
Adhering to his father's policy of learning the family business "from the
ground up," George J. Maloof, Jr. has successfully established himself as
an innovator in the hotel and gaming industries.
George is the leading force behind the building and operation of the
hottest property in Las Vegas, the Palms, which is owned by the Maloof
family, and has become one of the most sought-after destinations in the
entertainment capital of the world.
As Chairman of Maloof Hotels since 1989, George has overseen the
operation of hotels throughout the Southwest and California, including the
Fiesta Casino Hotel in Las Vegas, the Central Palace Casino in Central City,
Colorado, and the Palms.
George has very strong ties to the Las Vegas community. He is a UNLV
alumnus, where he received his bachelor's degree in business administration
(hotel management) in 1987.
In addition to his work in the gaming industry, George is also a member of the Patriarchal Order of
the Holy Cross of Jerusalem and the Las Vegas Chapter of Legatus.
Adrienne Maloof-Nassif is co-owner of Maloof Companies, which include the Sacramento Kings; The Palms Casino Resort in Las Vegas; Maloof Productions; Maloof Music; and Maloof Money Cup, a professional skateboard park franchise and competition event. As head of Marketing and Promotions for the Maloof brands, Adrienne has utilized her innate creativiy and marketing prowess to successfully advance Maloof Companies' many interests across multiple entertainment platforms.
Renowned for her business acumen, Adrienne received her first lessons in business from her father and entrepreneur George J. Maloof, Sr. From an early age, George Sr.—who owned a number of enterprises, including the Houston Rockets—groomed his children to become business leaders, introducing them to his hotel, trucking and banking businesses in their formative years.
After receiving her degree in political science from the University of New Mexico—where, as one of the country's top tennis players, she received a full scholarship—Adrienne worked in Sales, Advertising and Marketing for the family's liquor and wine business. In that role, Adrienne was responsible for all sales and promotion of Gallo Wines, expanding the look and appeal of the brand. After a few years of success in this part of the business, Adrienne's role in the Maloof Companies organically took an integrated role into all aspects of the Maloof industries.
For over two decades, Adrienne has led Marketing and Promotions for numerous facets of the Maloof family business—both past and present. Her approach to marketing is one focused on ensuring that her customers feel a 'personal touch' during every interaction with the Maloof brands. In addition to traditional marketing, Adrienne is also developing and producing numerous films and several reality shows to be released next year for Maloof Productions.
Philanthropic work is one of Adrienne's many passions. Due to her love and concern for animals and children, Adrienne joined forces with the Sacramento SPCA to serve as an honorary spokesperson. Her financial contributions allowed the SPCA to complete a new shelter in February of 2002 and develop the Adrienne Maloof Camp Kindness program, which allows underprivileged youth to learn the proper care and handling of animals. Her Camp Kindness program was so successful in Sacramento that she is currently in the process of developing a similar program for the Los Angeles SPCA. Additionally, Adrienne also endorses School on Wheels, a nonprofit aimed at enhancing the educational opportunities for homeless children from kindergarten through 12th grade; and the Good News Foundation, a group geared to promoting the good works of non-profit community organizations.
Adrienne presently lives in Beverly Hills, California with her husband, Dr. Paul Nassif, and their three sons.
Phil Maloof is an executive vice president with Maloof Companies and
the point person for the family's newest business ventures, Maloof Productions
and Maloof Music.
A former senator for the state of New Mexico, Phil was one of the youngest
elected officials in the country, appointed to the New Mexico State Senate
following the election of Mayor Martin Chavez, and subsequently re-elected
to a full four-year term from his west Albuquerque district in 1996, before
running for U.S. Congress in 2000.
Phil was known for his tough stance on crime while representing New
Mexico, becoming the first state senator in the country to sponsor the Three
Strikes, You're Out law, in addition to helping pass several bills aimed at
improving school funding.
An outstanding all-around athlete, Phil played quarterback collegiately at New Mexico State, before earning his post-secondary degree from the University of New Mexico.
Phil resides in Las Vegas and also has a home in Los Angeles, where he works to develop Maloof
Productions and the Maloof Music label. In addition, he assists in the other Maloof family businesses,
including the Sacramento Kings and the Palms hotel and casino property. He enjoys playing basketball
and traveling in his spare time.
