Missouri and Kansas are different. If Kansas voters had to vote on this to approve it, would it pass?
NFL: Kansas City Chiefs Thread
- Thread starter deadeyededric
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It is based on new business brought in by the Star project only. So basically all businesses that exist today are exempt. That Menards can double their sales after the stadium opens, but none of that sales tax will go toward ghe bond. But if a new coffee shop decides to open up in front of Menards, their taxes will go to the Star bond.
That will be determined by the bond investors. If they think it will take 75 years to pay back the bonds, then the bonds won't sell. This would be one thing that could derail this whole thing. Can't issue these bonds without buyers.
But after that vote, many of them said they had no problem with the Chiefs getting the money and would have voted for it, if it had been broken up between the Chiefs and the Royals instead of being all lumped together in one vote. So many wanted the Chiefs to get the financing for a new stadium, just not the Royals.
I don't think it is a competitive issue. The new business has the same sales tax rate as the old business. It is just that the sales tax revenue from the new business is directed to the Star Bond repayment while the sales tax from the existing business goes to the general fund. As a consumer patronizing both businesses, you won’t tell a difference.
Missouri thought the Hunt's were bluffing and just posturing to get more out of them. Apparently they weren't paying attention. They spent a ton of money looking into building on the Kansas side because they knew Missouri probably wouldn't step up
You would have to assume the revenue generated by the Chiefs would allow them to pay the bonds off in a pretty comparable timeline. I'm just guessing the Chiefs ability to generate money dwarfs Sporting KC's.
The Hunts also said dealing with Kansas was much cleaner. The only path forward in Missouri was through the citizens approving tax extensions/increases. That's a huge lift for something that is not a for sure thing. Kansas didn't require a vote of the people.
Likely true, but you’re counting on 8 Sundays to generate that revenue. There is no guarantee the chiefs are always in the playoffs or hosting when they get there.
I'm also talking about the money the chiefs will bring in using the bonds to build some of the entertainnt around the stadium.
Yep. Chances are probably high Mahomes never plays in the new stadium as a Chief.
That money will stay with the chiefs for the most part since they have that mega sweetheart deal.
The Hunts may be billionaires but they aren't **** people. They'll make it worth Kansas's wild. KCMO wouldnt be **** without that family. Lamar also built Worlds of Fun, etc...
So you think this is going to be a break even proposition for the state?
Why will this work, when it’s not worked with other stadium projects? Especially considering the completely lopsided deal they got for themselves?
I don't think theyll lose their ass. Either Kansas builds it or the team leaves the entire region. If Kansas wouldn't have done that the Chiefs would have left the entire area. Missouri should be thanking Kansas. Don't worry Kansas will bail their asses out again with the Royals too. Nashville, Charlotte, and cities like that would love to have a baseball team.
There is zero reason why Mahomes would not be playing in 2031, he is only 30 years old, so
he would be only 36 years old by the time the new stadium is built, Rodger and Stafford are 41 and 37 currently, Wilson is currently 36. Look how long Brady and others have played into their early 40s at a high level.
It all comes down to injures, but it's a safe bet that Mahomes will be leading the Chiefs on to the field when they open the new stadium.
They may decide to move on from him when he gets older. Who knows?
