News

Big Payout Looming For Skate Pros

E365> Skateboarding - Wednesday May 07 2008

E365 -- The Maloof family, famous for owning the Sacremento Kings and the Palms Hotel and Casino in Las Vegas, have decided to challenge ESPN's X Games franchise with the launch of the world's richest skateboard-only event.

The three-day, six-event Maloof Money Cup is scheduled for July 11-13 in Orange County, California, with $450,000 in prize money on offer.

"We're stoked to see that kind of money coming into skateboarding," World Cup President Don Bostick said according to TransWorld Skateboarding. "We were a little leery at first, but as our discussions progressed we saw it as an opportunity for skateboarders to really have a chance to go big."

The Maloofs feel the time is ripe for a competition of this nature.

"I wanted this to be different from the X Games — skateboarding only," Joe Maloof said. "I wanted to attract the best talent with the largest purse ever.

"I checked all the major skate competitions around the world to see what the different purses were, and I said, 'Let's do this right.' This is going to be the best of the best at one place. So if we're going to attract the best, we better pay like we mean it. It's close to $450,000 total."

As for the X Games organisers, they've come out in support of the endeavour.

"For 14 years, our prize purses have been the watermark for the entire industry and we are proud of what we've been able to provide the athletes," X Games general manager Chris Stiepock said according to USA Today.

"Over the past decade, no entity has paid more money to athletes in the form of prize purses than ESPN. It's great that the Maloofs have decided to devote resources to action sports. A rising tide lifts all boats, and the more exposure given to action sports, the more we all benefit."

Makes sense to us.