Clark Hunt wants public money for a Chiefs stadium development.
Jackson County, Missouri lawmakers are not going to be able to present a financial two-stadium plan to the owner of the National Football League’s Kansas City Chiefs’ franchise Clark Hunt and to the owner of Major League Baseball’s Kansas City Royals franchise John Sherman anytime soon. That could leave open the possibility of Kansas swooping in and getting the two sports owners to move operations across the border to an area near Kansas City, Kansas. Clark Hunt seems to be in no hurry to make any decision about the future home of his business. “I certainly don’t expect to have anything finalized by next spring, but I’d like to know the direction that we’re heading in that time frame.” Hunt’s lease with Jackson County for use of the stadium ends in 2031 so there is no rush to get a deal done. There is no rush to get a Royals’ stadium built either.
Kansas lawmakers are still mulling over a proposal that would see STAR bonds used to help pay 75% of the cost of building two stadiums in Kansas. Additionally, sports gambling and lottery gaming and sales tax revenue from businesses in the stadium development districts would cover bond debt. Another source of revenue to pay off the debt would come from a liquor tax. Kansas lawmakers could use a mechanism that would allow up to 100% of sales tax revenue on alcoholic liquor sales within a stadium district to pay off bonds for the structures. On April 2nd, Jackson County voters said no to continuing a stadium sales tax with the revenue going into a stadium building bank fund. Had Jackson County voters said yes to extending the sales tax, Sherman would have been able to build a downtown Kansas City ballpark and Hunt would have had the money to renovate his present football facility.
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C;ark Hunt
