Maloof Brothers Boxing Shuts Down
ALBUQUERQUE, N.M. (AP) _ Maloof Brothers Boxing, a corporation set up to promote and provide financial help to Albuquerque boxers, is closing after less than six months.
The family that runs the group is the principal owner of the Sacramento Kings and the WNBA’s Sacramento Monarchs. The family also recently opened a hotel-casino in Las Vegas.
Businessman Joe Maloof announced in June with his brother, Gavin, that the family was getting into boxing. He says the venture was a mistake.
``It’s a very difficult business,″ Joe Maloof said. ``You have to be actively involved on a daily basis, or it’s not going to work. And we were already very busy.″
The corporation had been working with Albuquerque boxers Max Heyman and Danny Romero.
Heyman had signed a four-year deal that would have allowed him to train full time. Heyman, a light heavyweight, won two bouts and lost one while fighting for the Maloofs.
Romero, a two-time former world champion, lost his only fight under the Maloof banner.
Guy Riordan, a partner in the venture, said Romero and Heyman have been released from their contracts. Riordan said he’s helping both fighters make the transition to another manager.