Breaking down how Missouri’s support will fund the Royals’ stadium | Opinion

Missouri House Speaker Jon Patterson outlined how the Show-Me Sports Investment Act will help finance the Kansas City Royals’ planned $1.9 billion downtown ballpark near Crown Center. The project is part of a $3 billion public-private partnership involving the Royals, Hallmark, Kansas City and the state.

FULL STORY: Top GOP state official notes Royals’ next steps in Show-Me Sports Investment Act | Opinion

Here are key takeaways:

• State funding mechanism: The Royals must present their 2025 tax receipts — including sales tax from Kauffman Stadium, employee income tax withholdings and the athletes and entertainers tax — to the Department of Economic Development. That existing revenue will be redirected to make bond payments on the new facility.

• Annual cost: Patterson estimated the state’s contribution at about $15 to $17 million a year in bond payments over 30 years. The legislature does not need to vote again; negotiations happen through the Department of Economic Development.

• Kansas City’s share: The city is investing $600 million. About one-third of the project’s cost comes from public money, which Democratic state Rep. Ashley Aune called “a pretty responsible, fair plan.”

• Bipartisan support: Patterson said the effort drew both Republicans and Kansas City Democrats whose constituents would directly benefit, creating a coalition large enough to pass the Show-Me Sports Investment Act during a special session last summer.

• What’s ahead: Patterson said the Crown Center location could become “the gold standard for Major League downtown baseball stadiums.” The Royals’ lease at Kauffman Stadium expires in 2031.

The summary points above were compiled with the help of AI tools and edited by journalists. The full story in the link at top was reported, written and edited entirely by journalists.