It looks like the new market for stadium/arena financing has been established in Kansas City. The Chiefs 40% “contribution” will presumably come from the same sources as the Vikings: PSL’s and the NFL’s loan non repayment program. The Chiefs’ annual rent will actually go to their own r/m expense line item. So it’s a rent free deal with no actual out of pocket ownership contribution to stadium costs.
Pretty sure Lore/ARod will be looking for the NBA version of this kind of financing structure. They’ll try to get it here first. If that doesn’t work, who knows what’s next.
www.kmbc.com
Pretty sure Lore/ARod will be looking for the NBA version of this kind of financing structure. They’ll try to get it here first. If that doesn’t work, who knows what’s next.
Kansas–Chiefs STAR bond deal: Stadium funding, lease and relocation terms explained
A breakdown of the Kansas–Chiefs term sheet outlining STAR bond funding, a $3B domed stadium, lease terms and non-relocation protections.
www.kmbc.com