April 26, 2012; Sacramento, CA, USA; Sacramento Kings owners Phil Maloof, George Maloof, and Gavin Maloof sit court side during the second quarter against the Los Angeles Lakers at Power Balance Pavilion. Mandatory Credit: Kelley L Cox-US PRESSWIRE
Tom Ziller just ran down the worst owners in the NBA, and there are some pretty bad ones. Including an ownership group/family that is near and un-dear to Ziller's heart. The Maloofs. He writes that the Maloofs were trying to move the team since 1998 but got sidetracked with the team's success and their casino expansion. Until...
Then the bottom fell out ... of the team and of Las Vegas. The family went broke on The Palms expansion; after selling off their late father's touchstone business, a New Mexican beer and liquor distributorship, the family still didn't have enough cash to stave away creditors. The Maloofs now own 2 percent of The Palms. George remains as a figurehead CEO, but recent reports suggest the new owners are trying to un-Maloof the resort. Meanwhile, the team lost money for a bit and the family shuttered the WNBA Monarchs. The Maloofs put together an escape plan to Anaheim in 2011, but were too inept to pull it off: the Sacramento mayor, some local businesses and a fan group all managed to block the family's move. The Maloofs earned revenge by declining a perfectly good deal to stay in a new building in Sacramento crafted by the NBA; now they float in purgatory, unwilling to stay and unable to leave.
Ooof. There's also Donald Sterling, James Dolan and others. Then there are other sports. Imagine going through what the Dodgers went through for years. It all goes to show how important it is to have good owners. The Celtics seemed to suffer through the Gaston years, but when Wyc and company took over, things took a turn for the better. Hats off to them.