Maloof family

Originally from New Mexico, the family's success began with the distribution rights for Coors Brewing Company in the Southwest region of the US in 1937.

The Maloofs acquired a minority interest in the Kings in 1998 and took majority control the following year, with Joe and Gavin operating the franchise.

[3] In late 2010 the Maloof family began negotiating with officials in Anaheim, California in an effort to move the Kings franchise to that city, despite repeated assurances that the team would stay in Sacramento.

In June 2011, the Maloof brothers, Joe and Gavin, along with successful investor Ghassan El Morabit, sold a majority share of the Palms to two lending companies (Leonard Green & Partners LP in Los Angeles and TPG Capital in Texas), allowing them to move forward with building their arena.

On May 15, 2013, the NBA Board of Governors denied the relocation bid, effectively nullifying the sale to the Seattle group.

Finally, construction for the Kings' new arena, the Golden 1 Center, began on October 29, 2014,[6] and was completed prior to the start of the 2016-17 NBA season.

[7] The Maloofs are also the minority owners of the Vegas Golden Knights of the NHL, who made it to the Stanley Cup Finals in their inaugural season.

In 1994, the Maloof family opened the Fiesta Rancho hotel-casino in North Las Vegas, and sold it in 2000 for over $185 million.

In 2011 a restructuring gave private equity firms TPG Inc. and Leonard Green & Partners each a 49% share, leaving the Maloofs with 2% ownership.