Kansas City Proposes $600M in Bonds for New Royals Stadium
Kansas City officials have introduced a proposal to issue $600 million in bonds to fund a new downtown stadium for Major League Baseball’s Kansas City Royals. This initiative aims to keep the team in Missouri, following neighboring Kansas's successful effort to secure the NFL's Chiefs with substantial subsidies. The proposed ordinance, supported by Mayor Quinton Lucas and nine City Council members, authorizes negotiations for a site near Union Station. The total projected cost of the new stadium is $1.9 billion. Under a recent Missouri state law, the state would cover half the cost ($950 million), while the city's bonds and $350 million in private funds from the Royals would cover the remainder. This move comes after Jackson County voters rejected a tax extension for renovating the existing Truman Sports Complex in 2024. With current leases expiring in 2031, the city seeks to finalize a deal to prevent the team from relocating or choosing alternative sites, such as one in North Kansas City. Kansas legislative leaders have indicated they will not pursue a counter-offer for the Royals after committing significant resources to the Chiefs' new stadium.
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Kansas City Proposes $600M in Bonds for New Royals Stadium
Kansas City officials have introduced a proposal to issue $600 million in bonds to fund a new downtown stadium for Major League Baseball’s Kansas City Royals. This initiative aims to keep the team in Missouri, following neighboring Kansas's successful effort to secure the NFL's Chiefs with substantial subsidies. The proposed ordinance, supported by Mayor Quinton Lucas and nine City Council members, authorizes negotiations for a site near Union Station. The total projected cost of the new stadium is $1.9 billion. Under a recent Missouri state law, the state would cover half the cost ($950 million), while the city's bonds and $350 million in private funds from the Royals would cover the remainder. This move comes after Jackson County voters rejected a tax extension for renovating the existing Truman Sports Complex in 2024. With current leases expiring in 2031, the city seeks to finalize a deal to prevent the team from relocating or choosing alternative sites, such as one in North Kansas City. Kansas legislative leaders have indicated they will not pursue a counter-offer for the Royals after committing significant resources to the Chiefs' new stadium.
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