Just wondering – both the Chiefs and Royals are private companies. Should the public chip in to make the dreams of both teams come true? Are there better ways to spend the public’s money? If you happen to run across this post – what is your opinion?
The Kansas City Chiefs and Royals are seeking public funding to help finance their new stadium projects. The Royals are asking for public funding of $ 1 billion for their new stadium and district, and the Chiefs have proposed renovations to Arrowhead Stadium that would cost $800 million, with the team owners willing to cover $300 million.
Royals:
- The Royals are seeking roughly $1 billion in public funding from Jackson County voters to help finance a new stadium and district in the Crossroads.
- They are also aiming for $700 million in funding from Kansas City and Missouri taxpayers.
- The total cost of the Royals’ project, including the district and the stadium, is estimated to be $2 billion.
- The Royals plan to use a sales tax to help fund the project.
Chiefs:
- The Chiefs have proposed renovations to Arrowhead Stadium that would cost $800 million.
- The team’s owners are willing to contribute $300 million, leaving $500 million for public funding.
- The Chiefs have been seeking public funding through state incentives and tax revenue.
- They have also explored the possibility of using bonds to finance the renovations.
