Sacramentoteamstore.com is owned and operated by Maloof
Sports and Entertainment, and is located within the ARCO Arena, the top
venue for sports, entertainment and special events in the Greater Sacramento
area. ARCO Arena is home to the Sacramento Kings of the NBA and the WNBA's
Sacramento Monarchs.
Maloof Sports and Entertainment
The Maloof family has guided the
Sacramento Kings and Monarchs as well as ARCO Arena to unparalleled heights.
Under Maloof Sports and Entertainment, the Kings and Monarchs have advanced
to the NBA and WNBA Playoffs, respectively, and produced entertaining
basketball that has been seen throughout the world.
Even more impressive than the company’s competitive
accomplishments, has been Maloof Sports and Entertainment’s significant
impact within the community. The company has earmarked over $1 million
annually in the way of charitable gifts and donations, including a minimum
of $100,000 in proceeds from a selected Kings preseason game donated to
local charities as a tribute to the family’s late father and husband
under the name of the George J. Maloof Sr. Community Cup. In 1999-2000,
the $100,000 gift was awarded to Sacramento’s Airport Little League,
allowing city officials to sod the field, build team dugouts and bleachers,
and refurbish the overall look of the complex. In 2000-01, the contribution
was presented to the Sacramento Unified School District to repair a building
in downtown Sacramento to house Hemispheres, an after-school visual and
performing arts academy. Last season, the donation allowed the Sacramento
Asian Sports Foundation (SASP) Building Fund to bring a Community Cultural
and Youth Sports Center to South Sacramento. The family’s charitable
efforts earned Joe and Gavin Maloof the Sports Humanitarian World Hall
of Fame’s Most Involved Executives award for 2001.
Striving toward the goal of providing complete customer
and employee satisfaction, Maloof Sports and Entertainment heads into
the 21st century with a vision as "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. "We have a long-term commitment to our fans and employees
that will make the entire Sacramento community proud to call this organization
their own."
The Kings and Maloof Sports and Entertainment continue
to explore ways to enhance the entertainment value of the nearly two million
guests who annually enter through the ARCO Arena gateways. In the 2000-2001
operating budget, the company earmarked $1 million for training, services,
and equipment 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 in a league-conducted survey by J.D. Powers and
Associates. Despite the No. 1 ranking, Maloof Sports and Entertainment
continues its investment and commitment to fans, providing additional
ARCO Arena upgrades and extensive team member training that enhances the
overall entertainment experience for each and every guest.
Another Maloof investment and vision became reality in
December of 2000 when the Kings and Monarchs moved their basketball operations
into a $9.1 million, 38,500 square foot training facility. The state-of-the-art
structure, built adjacent to ARCO Arena, features two full size basketball
courts, separate locker rooms and luxury offices for both teams, and the
latest in training and rehabilitation amenities.
Celebrated Return to Professional Sports
The Maloof family’s interest in purchasing the Kings, Monarchs,
and ARCO Arena originated in 1997 when they contacted then-Managing General
Partner Jim Thomas regarding the availability of the teams and arena.
On January 14, 1998, the Maloofs completed the purchase of a minority
limited partnership in the organization’s franchises and 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, they 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. 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 remained with the family.
"We waited a long time to get back into the NBA.
I remember going to the NBA Finals with the Rockets in 1981, and how exciting
that was. We want to capture that excitement with our teams here in Sacramento."
Gavin Maloof stated.
A 100-Year Model for Diversified Business Success
Palms Casino Is Hottest New Property in Las Vegas
The Maloof Companies are a diversified group of business
ventures including hotels, casinos, banking, food and beverage, and transportation
headquartered in Albuquerque, New Mexico and operated in New Mexico, Colorado,
and Nevada.
In 1994, the family made a $10 million investment 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 the operating
interest in the Fiesta Hotel Casino for over $185 million. The family
immediately re-invested the money into the construction of the Palms,
a $285 million hotel casino just off the Las Vegas strip with a 42-story
tower and 447 guestrooms. The Palms, which opened for business on November
15, 2001, features outstanding customer service, unique architecture,
and award-winning restaurants, entertainment, nightlife, and amenities.
In less than a year of operation, the Palms has become the hottest property
in Las Vegas with thousands of visitors daily.
In addition to their gaming business, the Maloofs have
exclusive proprietorship rights to the distribution of Coors Beer throughout
New Mexico. The Maloof Companies also is the largest single shareholder
in Wells Fargo Bank, which operates banks and branches in 23 states throughout
the Western United States with over $200 billion in assets and 15 million
customers.
Colleen Maloof serves as Chair of the Board of Directors
of the Maloof Companies. Joe Maloof is president of the corporation and
oversees the banking and sports and entertainment divisions, while Gavin
Maloof is vice chairman, also leading the sports and entertainment daily
operation. George Maloof, Jr., is an executive vice president and heads
the hotel division, and Adrienne Maloof is the secretary/treasurer of
the company. Phil Maloof is an executive vice president and a former New
Mexico state senator.
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 1930’s, the Maloof family acquired the distribution
rights to Coors Beer and subsequently established Quality Imports, a wholesale
fine liquor distribution center, in 1937. 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 1970’s. In 1978, 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 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. "From 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. In Sacramento, the fans are our customers and providing
a great experience for them is our goal," says Gavin Maloof.