KANSAS CITY – Architecture firm Manica released renderings of a new Kansas City Chiefs stadium located in Kansas City, Kansas. This new stadium will be a $2 Billion stadium located southeast of the Legends area.
Kansas City Mayor Quinton Lucas tweeted about the new stadium concept, “I have been to the Roman Coliseum. I hold Arrowhead Stadium in similar reverence.” Lucas doesn’t want the Chiefs to move out of Jackson County and likes what the Chiefs have already announced for the upcoming renovations.
With the Truman Sports Complex lease set to expire in 2031, the Chiefs and Royals, part of the MLB, need to find new homes prior to 2031. The Royals already have their option, funding and approval are the only issues. The Chiefs on the other hand are still deciding on a new stadium. The Chiefs are wanting to stay on the Missouri side of KC but that is seeming like less of a possibility and not logical.
How will this stadium be funded? STAR bonds, hopefully.
What are STAR bonds? Sales Tax and Revenue bonds. They allow local governments to use bond proceeds to help finance tourist attractions within development districts they create. STAR bonds can help pay for property acquisition, site preparation, and infrastructure costs.
The two new stadiums will cost $250 million a year to pay the debt, but their sales tax will generate roughly a third of that, and ultimately, the state’s general fund is on the line. After the STAR bonds are used, this new stadium will cost $160 Million per year, about $64 per person for the two new stadiums. Kansas lawmakers failed to pass their STAR Bonds stadium bill early Wednesday morning, but hope is not dead. Geoffrey Propheter says the proposed Kansas bill would be a win for fans and a big win for the owners.
Just 2 minutes to the closest professional team, the MLS’ Sporting Kansas City, this new stadium will be a big win for everyone. A new NFL stadium coming to a already growing area, the amount of possibilities of this new stadium will present are immense. Super Bowl, NCAA Final Four, CFB National Championship, Big12 Championship, and various huge concerts could bring even more people in to see what our city is all about.
