Joe Maloof Bullish On Expansion Of Money Cup Skateboarding Event
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.