Who Owns Who? Zoom on NHL owners and their portfolios: Vegas Golden Knights
The Who Owns Who series has to continue with the second Stanley Cup finalist, Vegas Golden Knights. You can check the first finalist piece if you missed it.
Vegas Golden Knights were established in 2017. The team currently has a value of $965 million, making them the 16th most valuable organization in the NHL. Their value has increased by 36% compared to the previous year, reaching $710 million, and their rank has changed from 17th place.
The team is owned by William (known as Bill) Foley and the Maloof Family, with a net worth of $1.6 billion and $1 billion, respectively. The rights for the team were purchased in 2016 for $500 million.
Foley began building his wealth while attending the military academy. At that time, his investments earned him his first tens of thousands. After completing his military service, he pursued a career in law. Later, he bought a title insurance company and invested in many different industries, such as wineries, hotels, ski resorts, steak houses, auto parts manufacturers, etc.
Initially, Foley wanted to invest in an NFL team, specifically the Jacksonville Jaguars, as he lived in Florida, where the Jaguars are based. However, that plan did not materialize, and he eventually acquired ownership rights to an NHL team, the Vegas Golden Knights, in 2016. In 2020, Foley purchased the San Antonio Rampage to establish the Knights AHL affiliate team in Henderson and rename them the Silver Knights. In 2021, Foley acquired the rights to an indoor football team, the Vegas Knight Hawks.
Foley’s recent acquisitions have been in the realm of soccer. In December of the previous year, he acquired the AFC Bournemouth, a team playing in the English Premier League, and became its chairman. A few weeks later, he added a minority stake in the French club FC Lorient.
The Maloof family holds a minority stake (30%) in the Golden Knights. The family started with beverage distribution, later expanding their business to hotels and banking. They have been involved in the sports business for a long time and have previously owned teams such as the Houston Rockets, Sacramento Monarchs, and Sacramento Kings.