Kansas City Royals, Chiefs sign leases in Jackson County; White objects - Kansas City Business Journal
Frank White doesn't appear to be pleased that a new lease for the Royals and Chiefs bypassed letting the Legislature weigh in. The Kansas City Chiefs and Royals have signed leases with the Jackson County Sports Complex Authority, contingent on voters approving a three-eighths-cent sales tax. Jackson County Executive Frank White objects to this, stating that the authority of the authority to act on behalf of Jackson County requires approval from the county's Legislature. If approved, the sales tax would generate more than $2 billion over 40 years. The Royals' agreement is for 25 years, with three options for five-year renewals. The Chiefs' agreement includes annual rent of $2.75 million and the Chiefs' $1.1 million. If the Royals leave, the Chiefs propose an $800 million renovation of GEHA Field at Arrowhead Stadium.
Veröffentlicht : vor 4 Wochen durch Russell Gray in Sports Business
The Kansas City Chiefs and Royals agreed to lease terms Wednesday with the Jackson County Sports Complex Authority that are contingent on voters approving a three-eighths-cent sales tax on April 2.
However, Jackson County Executive Frank White issued a statement Wednesday evening that the Sports Complex Authority “does not have the authority to commit or act on behalf of Jackson County in matters of leasing or similar legal agreements,” noting that the deal would require approval by the county’s Legislature.
White pointed to a “lack of transparency,” saying that as of Wednesday evening the “actual documents have not been made available for public scrutiny or journalistic review.”
During a signing ceremony, neither the Chiefs nor the Royals mentioned the need for subsequent approval by the Legislature, according to reporting partner Fox 4 Kansas City. And the Sports Authority’s Shawn Foster said his entity “has historically always been the authority that enters into leases with the team,” Fox reports.
If approved, the sales tax vote, which concludes April 2, would generate more than $2 billion over 40 years, with the teams splitting the proceeds.
The Royals’ deal would last 40 years. The Chiefs’ agreement is for 25 years but includes three options for five-year renewals, Fox reports. The Royals would pay annual rent of $2.75 million and the Chiefs $1.1 million. One tidbit coming out of the lease signing is that the county won’t pay to raze Kauffman Stadium should the Royals decamp for Downtown, putting the responsibility on the teams.
The Chiefs propose an $800 million renovation of GEHA Field at Arrowhead Stadium, predicated on the Royals leaving. The NFL team pledges to invest $300 million in the project, with the balance coming from unspecified other sources, including funding from the state. The team targets the renovations ending in 2030 or 2031. Proceeds from the proposed sales tax would fund maintenance and repairs at Arrowhead, not the renovation, Chiefs officials said late last month.
The Royals want to build a $2 billion ballpark district on more than 17 acres in the Crossroads Arts District centered on the former printing press facility for The Kansas City Star. This includes a 34,000-seat stadium the team hopes to have ready by Opening Day 2028. The team has pledged to commit more than $1 billion in private money to cover all of the district’s development and “hundreds of millions of dollars” toward the stadium. The Royals intend to use the desired sales tax to cover as much as $350 million in upfront stadium costs. The team has pledged to cover cost overruns.
Also on Wednesday, after Mayor Quinton Lucas expressed his displeasure, the Royals announced that the project would not result in closing a stretch of Oak Street in the Crossroads, Fox reports. Royals Chairman John Sherman said that the team reacted after listening to Lucas and the community and that the change won’t modify the stadium footprint or affect the surrounding ballpark district.
Themen: Baseball, MLB, Kansas City Royals