Joe Maloof created the Maloof Money Cup in '08 in an effort to
raise skateboarding’s visibility and add to the Maloof family’s sports
interests. The event has expanded since then to include competitions in California,
N.Y. and, this year, DC and South Africa. The first Maloof Money Cup of '11 will
take place this weekend in Queens. Maloof spoke Friday with SportsBusiness Journal’s
Tripp Mickle by phone from Las Vegas about the series and this weekend’s
event.
Q: Tell me about how the event went last year and what the expectations
are this year?
Maloof: Last year, New York City was a terrific success. We were
able to come in and build a state-of-the-art skate park in Queens. After the event,
we donated the skate park to the city. We had Harry Potter-like crowds. Every
time we had a giveaway at a skate shop, there were lines around the block. This
year will be as big if not bigger. We came back in and fixed up the course. We
added some new things. The response has been incredible and we’ll sell out
every ticket. We’ll have 8,000-10,000.
Q: Has this series been profitable for you?
Maloof: Yes. It is now, and I’ll tell you why. You get
tremendous response from corporate America. The alliances we’ve been able
to make and the sponsorships we’ve been able to garner have been second
to none. They come for the demographic. Now you have corporate guys in their 40s
and they understand skateboarding. A decade ago corporate officers may not have
understood skateboarding, but now they do because those CEOs are aging.
Read
the entire Q&A.
