Bucks Go All-In on Giannis Era
The Kansas City Royals are making their way downtown.
On Tuesday, Royals chairman and CEO John Sherman announced plans to build a $2 billion stadium and entertainment district either near downtown or in it.
Sherman, who bought the team for $1 billion in 2019, wrote that the process would be the largest public-private development project in the city’s history and includes the team’s “own intention to invest hundreds of millions of dollars directly into the ballpark and the ballpark district.”
The team envisions local restaurants and shops, office spaces, hotels, and housing.
- The team said construction of the plan could create 20,000 jobs, with $1.4 billion in labor income.
- It could generate an estimated $2.8 billion in total economic output.
- In its inaugural year, the ballpark is estimated to drive $185 million more in regional economic output than the team’s current home, Kauffman Stadium, does.
The Royals estimate the development around the new stadium could attract 2,200 onsite jobs. Employment could represent $200 million in annual labor income and over $500 million in annual economic input.
Jackson County citizens won’t have to contribute any extra tax dollars.
Kauffman Construction
The announcement comes after the team announced in September 2021 it would explore the possibility of a new ballpark — the team’s lease at “The K” expires in 2031, at which point the venue will be nearly 60 years old.
“The renovations required at The K to achieve our objectives would cost as much or more than the price tag to develop a new ballpark,” Sherman wrote.
