Border battle set for Royals, Chiefs stadiums
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Kauffman and Arrowhead stadiums could soon look a lot different. Photo: Kirby Lee/Getty Images
Missouri lawmakers this week passed an incentives bill aimed at keeping the Royals and Chiefs in the state, raising the stakes in the border battle with Kansas.
Why it matters: With both states offering competitive financial packages, the teams are poised to make home-field decisions that will shape the future of KC sports.
- The Royals are set on a new stadium. The Chiefs have not decided whether they plan to move or renovate Arrowhead Stadium.
Missouri
The big picture: Teams that choose to build or renovate their stadium in Missouri will get up to 50% of construction costs paid off using taxes generated by the teams over the next 30 years.
Between the lines: The incentives bill could also apply to the St. Louis Cardinals for potential renovations at Busch Stadium.
Yes, but: According to the bill, state funding relies on "sufficient public investment" from local governments, which could mean additional financing or infrastructure improvements.
State of play: Gov. Mike Kehoe is expected to sign the bill Saturday afternoon, spokesperson Gabby Picard tells Axios.
Kansas
The big picture: Teams that choose to build their stadium across State Line Road could get 70% of their costs paid in much the same way, using future tax revenue generated from the teams to pay for Kansas' state tax and revenue (STAR) bonds.
Between the lines: Kansas' bill also does not require local financial participation, which could mean less red tape.
Yes, but: Kansas has never used STAR bonds to finance projects this big, and a Beacon report suggests the state may be overestimating its ability to pay up.
- Children's Mercy Park got a $150 million bond, which it has paid off. Estimates put a new Royals stadium at $1 billion to $2 billion.
What's next: Kansas' deal expires June 30. Without an extension, teams will need to decide by the end of the month.