The Maloof Money Cup is expanding to three contests this year, the first of which will be in New York City this June. Read on for the details.

Joe and Gavin Maloof said Tuesday they will hold Maloof Money Cup New York on June 5-6 at Flushing Meadows Park in Queens, featuring a street skateboarding competition. The winner will earn $100,000.

The Maloofs have agreed to donate the $1.8 million, world-class skate park they will build for the competition to the city of New York through the City Parks and Recreation Department’s “Adopt-A-Park” program. Joe Maloof said the cost of the skate park will be defrayed by contributions from sponsors Vans and Monster Energy.

The Maloof Money Cup will return to Southern California for the third straight year, featuring street and vert competition, from Aug. 4-8 at the Orange County Fairgrounds in Costa Mesa.

The New York competition will include a wild-card contest to give local skaters the opportunity to compete against the top pros in the industry. Pro skaters Chris Cole and Geoff Rowley, New York skating icon Steve Rodriguez and Joe Ciaglia of California Skateparks will lead the design of the street course. The New York prize purse is nearly $250,000.

Maloof said the competition will expand to South Africa in 2011.