Categories: The GM's Suite

Sacramento Kings Owners, The Maloofs Sell Bulk Of Shares In The Palms Hotel

The Maloofs, owners of the Sacramento Kings, have completed the sale of all but 2 percent of their shares of The Palms Hotel. The Maloofs owed their creditors $400 million dollars and sold it to creditors to clear the debt.

The new majority owners are two investment firms that held the resort’s debt, Leonard Green & Partners and TPG Capital.

The Palms resort opened 10 years ago in Las Vegas. George Maloof will continue to run the Las Vegas property and the Maloofs have the opportunity to up their share to 19.5%

I bet they want to season to start soon. The NBA board of Governors denied the Maloofs bid to move to Anaheim but one of the casualties of the lockout might be some of the sponsors that had come on board for a new arena in Sac. I bet the Maloofs will revisit the move again.
Source

Jill Munroe

Jill Munroe is a Los Angeles-based host, producer, and writer. You can find her work on sites such as FoxSports.com, EURweb.com, and MSN.com. Munroe is a current member of the African-American Film Critics Association and the National Association of Black Journalists. Munroe has also been a frequent guest on ESPN radio and Yahoo Sports. In 2015, Munroe released her first book, "PostGame Pass: access into "the life" JillMunroe.com

Share
Published by
Jill Munroe

Recent Posts

‘Reasonable Doubt’ Season 2 Hulu Tackles Friendship, Power & Secrets | Exclusive with Raamla Mohamed & Emayatzy Corinealdi

Hulu's *Reasonable Doubt* highly anticipated second season delivers a complex mix of courtroom drama, personal…

2 weeks ago

Frasier Reboot Season 2: How Olivia, Eve, and Roz Redefine Strong Female Characters | Watch on Peacock

The *Frasier* reboot on Peacock returns for its second season, bringing back the beloved character…

4 weeks ago

Puff Daddy, Hugh Hefner, and 70s Rock Icons: Two Sides of the Same Coin?

The lifestyles of music and media moguls, from rock stars of the 1970s to hip-hop…

4 weeks ago

Zoë Kravitz on Directing ‘Blink Twice’: Exploring Paradise, Danger, and Feminist Themes

Zoë Kravitz on Directing 'Blink Twice': Crafting Tension in Paradise Zoë Kravitz has stepped behind…

1 month ago

Diddy’s Explosive New Lawsuits: Drugging, Assault, and Voodoo Tattoo Connection

Sean "Diddy" Combs has found himself at the center of a storm, with new allegations…

1 month ago

“Seeking Mavis Beacon:” A Cultural Icon Who Was Never Real

The mystery behind Mavis Beacon, the face of the beloved 1980s typing software, has intrigued…

2 months ago

This website uses cookies.