The Maloof brothers took control of the Sacramento Kings in 1998, promising a vibrant era of competitive basketball and deep community engagement. What followed was a complicated 15-year tenure marked by thrilling playoff runs, financial turbulence, intense relocation battles, and a dramatic parting of ways with California's capital.
Understanding how Joe, Gavin, and George Maloof shaped the franchise requires looking past the glitz of their Las Vegas roots. Their journey with the Kings reflects the volatile intersection of family-run sports operations, shifting real estate ventures, and the fierce loyalty of one of the NBA's most passionate fanbases.
Rise to Power: How the Maloofs Acquired the Kings
Long before they managed an NBA franchise, the Maloof family built a massive business empire anchored by Coors beer distribution rights in New Mexico, banking investments, and hospitality properties. Their initial splash in professional sports came when they purchased a stake in the Houston Rockets in 1979, holding it until 1982.
In 1998, the family shifted their sights back to the hardwood by purchasing a majority stake in the Sacramento Kings from Jim Thomas. At the time, Sacramento was a small-market franchise desperate for stability. The brothers brought a fresh, high-energy presence to the arena, often sitting courtside, interacting with fans, and projecting an image of approachable, fun-loving owners. To see the full picture, check out the detailed analysis by Yahoo Sports.
The Golden Era on the Court
The early years of the Maloof era coincided with the most successful period in Sacramento Kings history. Guided by general manager Geoff Petrie and head coach Rick Adelman, the team assembled a dazzling roster featuring Chris Webber, Vlade Divac, Jason Williams, Peja Stojakovic, and Mike Bibby.
Playing an innovative, fast-paced style dubbed "The Greatest Show on Court," the Kings captured the hearts of the NBA world. They reached the Western Conference Finals in 2002, pushing the dominant Los Angeles Lakers to a grueling seven games. During this window, Arco Arena was famously rated one of the most hostile and loudest venues in professional sports, fueled entirely by a fan base that embraced the team as the cultural heartbeat of Sacramento.
Financial Strain and the Shift in Public Sentiment
As the decade progressed, the family's business ventures outside of basketball began to face severe financial pressures. The construction and operation of the high-end Palms Casino Resort in Las Vegas, combined with broader economic downturns, drained the family's liquid capital.
Consequently, the Maloofs scaled back spending on the Kings. Roster payroll tightened, draft misses accumulated, and the team slid down the standings. By 2012, an ESPN ranking placed the Kings organization near the bottom of all major North American sports franchises, citing deteriorating fan relations and neglected stadium infrastructure. The stark contrast between the joyful early 2000s and the austere late-2000s created deep friction with local supporters.
The Relocation Saga and the Fight for Sacramento
The tension peaked when the family sought to cash out on their investment by moving the franchise. Facing mounting debts, the Maloofs explored multiple agreements to sell the team to prospective buyers aiming to relocate the franchise to Anaheim or Seattle.
- The Anaheim Bid (2011): Initial discussions took place to move the team to the Honda Center in Southern California, though the NBA pushed back and the family briefly pulled the request.
- The Seattle Agreement (2013): The Maloofs reached an agreement to sell a majority stake to a Seattle-backed group led by Chris Hansen and Microsoft CEO Steve Ballmer, with the clear intent to relocate the team.
The prospective move triggered an unprecedented grassroots counter-offensive from Sacramento residents, local politicians, and business leaders. Spearheaded by tech executive Vivek Ranadivé, a local investor group rallied to match the team's valuation and keep basketball in Northern California.
The NBA Board of Governors Decision
In May 2013, the battle reached its climax. The NBA Board of Governors formally voted down the proposed relocation to Seattle by a 22-8 margin, signaling that the league valued maintaining its footprint in Sacramento. Shortly after, the Maloof family finalized an agreement to sell their remaining 65 percent controlling stake to Ranadivé's local ownership group at a total franchise valuation of $534 million.
This sale severed the family's ties to the organization, clearing the path for the eventual construction of the downtown Golden 1 Center and opening a new chapter for the franchise under modern sports management frameworks outlined by the National Basketball Association.
Frequently Asked Questions
When did the Maloof brothers own the Sacramento Kings?
The Maloof family owned controlling shares of the Sacramento Kings from 1998 until 2013.
Why did the Maloofs sell the team?
Financial pressures stemming from other business investments—such as the Palms Casino Resort in Las Vegas—forced the family to seek liquidity, culminating in the sale of their majority stake.
Did the Maloofs successfully move the Kings to Seattle?
No. Although they reached a purchase agreement with a Seattle-based ownership group, the NBA Board of Governors rejected the relocation proposal in May 2013, allowing a local Sacramento group to purchase the franchise.
What sports teams do the Maloofs own now?
While they are no longer involved in basketball, members of the family hold minority ownership stakes in the Vegas Golden Knights of the NHL.
