The Kansas City Chiefs have announced their plans to leave their long-time home, Arrowhead Stadium in Missouri, and relocate to a new, state-of-the-art stadium in Kansas. The move, which is set to take place in 2031, is a significant development for the franchise and the state of Kansas, with the new stadium expected to bring in substantial economic benefits and create thousands of new jobs.
The decision to relocate was made possible after a council of Kansas lawmakers voted unanimously to approve the issuance of sales tax and revenue (STAR) bonds to cover up to 70% of the cost of the stadium and accompanying mixed-use district. The bonds, which are estimated to be around $2.4 billion, will be paid off using state sales and liquor tax revenues generated in a defined area around the stadium. Chiefs owner Clark Hunt has committed an additional $1 billion in development, with a portion of this investment also being incentivized by the STAR bonds.
"We made a decision as a family that this was the right opportunity and the best for the organization for several reasons," Hunt said. "It's about the fans. My dad [Lamar Hunt, who founded the franchise] was always about the fans and thinking about the future. 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."
The new stadium, which will have at least 65,000 seats, will be located in Wyandotte County, with the exact site yet to be determined. The Chiefs are interested in building the stadium in Kansas City, Kansas, near the Kansas Speedway and a retail and entertainment district known as The Legends. The area is already home to Children's Mercy Park and is the home of MLS club Sporting Kansas City. The new stadium will provide the Chiefs with a modern and versatile venue that will enable them to host a range of events, including the Super Bowl, the College Football Playoff, and the NCAA Final Fours.
The economic benefits of the new stadium are expected to be significant, with Kansas lawmakers predicting that the project will create over 20,000 new jobs in the state and generate more than $4 billion in economic impact. Kansas Gov. Laura Kelly hailed the announcement as a "game changer" for the state, saying that it will "touch the lives of Kansans for generations to come."
The move is a significant blow to Missouri lawmakers and Gov. Mike Kehoe, who had been working on their own funding package to prevent the Chiefs from leaving the state. The Rams left St. Louis for Los Angeles in 2016 due to their inability to secure funding to replace The Dome at America's Center. Kehoe expressed his disappointment at the Chiefs' decision, saying that "they thought new and shiny was better than old and reliable."
"We won't give up," Kehoe said. "We'll look for cracks in the armor and find out if there's a Missouri Show-Me solution through our sports act."
The Chiefs' decision to relocate to Kansas is a major development in the world of professional sports, and it will be interesting to see how the team and the state of Kansas work together to bring this project to fruition. With the new stadium expected to be ready for the start of the 2031 season, fans of the Chiefs and the state of Kansas have a lot to look forward to in the coming years.
In conclusion, the Kansas City Chiefs' move to Kansas is a significant development that is expected to bring substantial economic benefits and create thousands of new jobs. The new stadium will provide the team with a modern and versatile venue that will enable them to host a range of events and compete with other top teams in the NFL. As the project moves forward, it will be exciting to see how the team and the state of Kansas work together to make this vision a reality.
Original: ESPN
Image: ESPN
Written by Npsports
