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By espn.com | Wed Jun 19 2024

Bill approved to lure Chiefs, Royals to Kansas

Kansas lawmakers have approved a plan to lure the Kansas City Chiefs from Missouri by financing a new stadium with state bonds covering up to 70% of the costs. The bill aims to use sports betting revenues, lottery sales, and new taxes to pay off the bonds over 30 years. The move follows Missouri voters refusing to extend a sales tax for the teams' existing stadiums, prompting Kansas to step in. Despite opposition from free-market groups, supporters argue the plan will generate new tax revenue and elevate the state's profile. The urgency stems from the need for stadium renovations and the potential economic impact on both states.

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