The NV and NM-based Maloof family has bought a 24%
share in the NBA Kings, Monarchs and Arco Arena, according
to Gary Delsohn of the SACRAMENTO BEE. The deal, worth
$37.5M, "fulfills a dream" of the four sons of late Rockets
Owner George Maloof, who have wanted "to re-enter the pro
sports fraternity" after they sold the Rockets upon their
father's death in '80. Gavin Maloof, on the sale of the
Rockets: "That was not one of our smarter decisions." The
Maloofs said it's "nothing but speculation" about whether
they will seek to exercise options contained in the deal to
"buy out" Kings Managing General Partner Jim Thomas and
other partners (SACRAMENTO BEE, 1/15). In Las Vegas, Matt
Jacob wrote that the Maloofs' announcement "immediately
triggered speculation that the Kings would abandon
Sacramento and possibly move to Las Vegas" (REVIEW-JOURNAL,
1/15). But Joe Maloof said that they have "no plans" to
move the Kings, but "would like" the team to play "a few
games" at The Pit in Albuquerque, NM (SACRAMENTO BEE, 1/15).
In Las Vegas, Matt Jacob reported that as part of the deal
with the Kings, the Maloof-owned Fiesta casino "can no
longer book NBA games" (L.V. REVIEW-JOURNAL, 1/15).
