Missouri is losing the Kansas City Chiefs after failing to match a generous public subsidy to finance a new stadium.
Kansas pulled out all the stops and offered to front 60 percent of the cost, which will see $1.8 billion in public money put toward the project.
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The Chiefs are heading indoorsCredit: Kansas City Chiefs
In return, the state lands a four-time Super Bowl champion and state-of-the-art dome in Wyandotte County, which can host year-round events.
Lavishing taxpayers’ money on teams owned by billionaires — in this case the Hunt Family, with a net worth of $25.6 billion per Forbes — will come under close scrutiny.
But the Chiefs’ updated economic impact projections suggest that Kansas is getting its money’s worth — and then some.
As well as the $3 billion arena, which could end up being called Arrowhead per recent patent requests, a $300 million practice facility and headquarters is being built in in Olathe, as well as private real estate developments worth $1.2 billion in the surrounding areas.
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Consulting firm Econsult Solutions believe that the construction period will see a total economic impact of $8.2 billion in Kansas City.
It should create around 36,500 full-time equivalent job-years worth $2.7 billion in employee compensation, as well as $106.4 million in tax revenue.
The stadium — designed by Manica — is set to open in 2031 and bring another $1.5 billion annually for the region due to visitor spending, creating 8,500 jobs.
Speaking about the Chiefs’ move out of Arrowhead earlier this year, Clark Hunt said:
“We’ve made a lot of progress over the last three months.
“I’ve been thrilled with what I’m seeing.”
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The Chiefs have played at Arrowhead Stadium since 1972Credit: Getty
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The new stadium will be accompanied by real estateCredit: Kansas City Chiefs
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Fans will be able to live and shop in the areaCredit: Kansas City Chiefs
It marks a new chapter for a franchise which has played at the iconic Arrowhead Stadium since 1972.
There are fears that the team risks losing the record-breaking atmosphere that helps fuel Patrick Mahomes and Co., but Chiefs president Mark Donovan highlighted the rewards.
“Since Lamar Hunt relocated the team from Dallas to Kansas City in 1963, the franchise has continued to drive significant economic, cultural, and community impact throughout Chiefs Kingdom,” he said.
“This once-in-a-generation project – which is really four projects in one – offers a truly transformational impact for the State of Kansas and the entire Kansas City region.
“This project has real short-term and long-term benefits, and we are excited about what we will be building together over the next five years and beyond.”
Kansas Senate President, Ty Masterson, defended the use of public money and suggested the project would provide a massive boost.
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“Funding schools in Elkhart, roads in Atchison and everything in between should be done through economic growth and job creation….not raising taxes,” he said.
“That is essential to our state’s future, and that is exactly why the Kansas City Chiefs project is so important to Kansas.
“By generating tens of millions of dollars of revenue for the state and creating thousands of Kansas jobs, this project helps place Kansas on solid financial footing for generations to come while lessening the burden on our taxpayers.”
The Washington Commanders released a similar report suggesting that a replacement for RFK Stadium will generate $24 billion dollars for the economy.
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Kansas City Chiefs owner Clark Hunt has said that the move is going wellCredit: Getty
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World Cup boost for Kansas City
Arrowhead has been the scene for a golden era of Chiefs football and founder Lamar Hunt‘s decades-long vision was realized with the arrival of the World Cup.
Kansas City applied for the 1994 tournament but lost out.
Hunt — a passionate soccer fan — did not live to see his passion project come to reality, but son Clark has picked up the baton.
“It’s going to be special,” he said ahead of the tournament, “And I think it goes back to thinking about my dad a lot.
“That’s what I’m going to do during those games, just think about how excited he would be to see the World Cup in Arrowhead Stadium.”
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Matches held at Kansas City Stadium — renamed by FIFA for the duration of the tournament because the companies that paid for the naming rights are not FIFA sponsors — include: Argentina vs. Algeria (June 16), Ecuador vs. Curaçao (June 20), Tunisia vs. Netherlands (June 25), Algeria vs. Austria (June 27), Ghana vs. Colombia in the round of 16 (July 3), quarterfinal (July 11).
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