Royals and Hallmark announce downtown stadium

• The plan is backed by $2 billion in private funding, with expected supplements by the city and state.

What they're saying: "The iconic Royals crown that Hallmark created will return to the very neighborhood where it was conceived," Hallmark Cards executive chairman of the board of directors Don Hall Jr. said in a statement Wednesday morning.

Context: It comes on the heels of the City Council's ordinance last week that outlined the city's intent to strike a deal worth up to $600 million.

• It's not deja vu: it's the second site announcement in just over two years after a failed stadium attempt in 2024 prompted competition from Kansas, which eventually attracted the Chiefs.

Editor's note: This story is developing and will be updated.