In business, there are no guarantees. But sometimes you play a hunch and it turns out to be a smashing success.
The Maloof family had a pile of money after they sold the NBA’s Sacramento Kings five years ago. They were looking to get back into pro sports, and after talking to NHL commissioner Gary Bettman about bringing a team to Las Vegas, they were introduced to Bill Foley, who had the same vision.
Foley and the Maloofs agreed to a partnership, and the Maloofs bought in for about 15 percent as minority investors in the Golden Knights.