Members of Maloof family sell ownership stake in Golden Knights

Four of the Maloof siblings involved in the Golden Knights ownership group have sold their interests in the franchise to majority owner Bill Foley, the team announced Thursday.

George, Gavin, Joe and Phil Maloof will no longer hold ownership stakes in the Knights. Adrienne Maloof, however, will continue to be a limited partner with the franchise. The Maloof family was believed to own around 15 percent of the team.

“We would like to thank the entire Maloof family for their contributions to the Vegas Golden Knights organization during their tenure as minority owners,” Foley said in a statement. “They were helpful in bringing NHL hockey to Las Vegas and had a belief and commitment to our city as a viable major professional sports market. We wish the family continued success.”

The Maloof family was involved with bringing the NHL to Las Vegas since the beginning of the expansion process. They initiated a conversation about hockey coming to the desert with commissioner Gary Bettman in 2013 after selling the NBA’s Sacramento Kings.

Bettman suggested the Maloof family meet with Foley.

The Maloof family has been involved in the Las Vegas business community for three decades, beginning with the opening of Fiesta Rancho and then the development of the Palms.

It’s unclear whether the divestment is part of a plan to purchase a different sports entity.

Foley and his ownership group paid a $500 million expansion fee for the Knights to enter the league in 2017. Last month, Forbes valued the franchise at $1.13 billion, a 17 percent increase in value from 2022.

Contact Adam Hill at ahill@reviewjournal.com. Follow @AdamHillLVRJ on X.