By now you probably know the Maloof brothers, the high-rolling owners of the Sacramento Kings. The Maloofs made their bones owning and operating the very cool Palms hotel in Vegas. Needless to say, this time five years ago, the family was flush with cash.
(Gavin (l) and Joe Maloof flying commercial now? I think they’ll live)
But the perfect storm has since hit the family, with Vegas suffering a catastrophic loss in visitors and the Kings having plummeted in the standings. So like most NBA teams these days, the Maloofs have laid off staff and made a myriad other organization cutbacks.
But one such belt-tightening move stands out above the rest. Read more…