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NFL, American Football Herren, USA Kansas City Chiefs Training Camp Jul 22, 2024 St. Joseph, MO, USA Kansas City Chiefs owner Clark Hunt talks with media after training camp at Missouri Western State University. St. Joseph Missouri Western State University MO USA, EDITORIAL USE ONLY PUBLICATIONxINxGERxSUIxAUTxONLY Copyright: xDennyxMedleyx 20240722_gma_sm8_0097

Imago
NFL, American Football Herren, USA Kansas City Chiefs Training Camp Jul 22, 2024 St. Joseph, MO, USA Kansas City Chiefs owner Clark Hunt talks with media after training camp at Missouri Western State University. St. Joseph Missouri Western State University MO USA, EDITORIAL USE ONLY PUBLICATIONxINxGERxSUIxAUTxONLY Copyright: xDennyxMedleyx 20240722_gma_sm8_0097
Essentials Inside The Story
- The latest update on the Chiefs includes a $1.8 billion news.
- Governor Laura Kelly believes the investment will contribute towards Kansas' future.
- Chiefs' move to Kansas will create 20,000 new jobs
While the Kansas City Chiefs‘ dynasty has been built at Arrowhead Stadium in Missouri, the next chapter of their legacy is set to be written across state lines as proposed by CEO Clark Hunt. With the ongoing conversations for a dome-shaped stadium, the state of Kansas came forward with a $3 billion financial package for constructing a new stadium. But there’s more to the financial aspect.
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“The $3 billion project, which includes a new domed stadium in Wyandotte County and a separate practice facility and headquarters in Johnson County, would be backed by roughly $1.8 billion in public funding, or about 60% of the total cost,” the KC Scene posted on Instagram.
“That money would come through Kansas’ STAR bonds and a sports-betting revenue fund created specifically to attract professional teams. Governor Laura Kelly emphasized the deal would not create new taxes or raise existing ones, instead relying on sales tax revenue generated by the stadium and surrounding development.
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“Still, critics note that sales tax dollars used to repay bonds are dollars that cannot be spent elsewhere, and decades of academic research have shown public stadium subsidies often fail to deliver the promised economic return.”
While economists are skeptical about whether the project will reach its expectations, Governor Laura Kelly believes otherwise.
She is sure the new project with take the state to the next level and will prove to be a game-changer. As per estimations, it will generate about 20,000 new jobs and have more than $4.4 billion in economic impact.
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Kansas’ STAR Bonds, consisting of sales tax and revenue bonds, will be used to fund the project. While it primarily attracts professional teams, STAR bonds are repaid from sales and related tax revenues generated in the designated STAR bond district.
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The Star Bonds cover 50% of the dome-shaped project, but Kansas lawmakers made a special exception and increased it to 60%. Plus, the Hunt family will also commit to $1 billion in additional development, a portion of which can be incentivized by STAR bonds.
Amid the latest announcements, Clark Hunt also released a statement while praising the project.
Hunt believes the project will be a step towards a legacy of innovation
“This project represents another step in our legacy of innovation and our fan-first mentality, which started with my father, Lamar Hunt,” said the Chiefs Chairman and CEO, Clark Hunt, earlier this week “The stadium, practice facility, and surrounding development will benefit the entire region, and further elevate Kansas City in the eyes of the country and the world.”
He further added, “This will give Chiefs Kingdom a state-of-the-art facility for multiple generations, a building that can last for at least 50 or 60 years. We believe it’s the best thing for the region. It will give Kansas City the opportunity to bid on events that we can’t host right now, like the Super Bowl, the College Football Playoff, and the NCAA Final Fours.”
The Chiefs have been playing at Arrowhead since 1972, and their current lease at Arrowhead expires in January 2031. So, the move will be officially in the works around that time.
The Chiefs have a preference to build the stadium in Kansas City, KS., near the Kansas Speedway, though the exact location in Wyandotte County remains undecided.
Hopefully, a better future awaits the team away from Missouri. However, before that happens, they will need to borrow some of that ‘better future’ for their upcoming season. After a disappointing 2025 season, Patrick Mahomes‘ Chiefs will hope to return stronger in 2026.
The star QB will be 36 when the dome-shaped stadium is completed. While it is still a far-fetched dream, many will wish to see him throwing touchdowns at the team’s newly built home.
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