Missouri’s effort to keep Chiefs, Royals in state awaits governor’s signature
KANSAS CITY, Mo. (KCTV) - Missouri lawmakers have fully approved the stadium incentives designed to keep the Chiefs and Royals in the state.
During their special session, the Missouri House of Representatives approved a bill Wednesday that would incentivize the Kansas City Chiefs and Royals to stay put and not move across state lines.
This plan only benefits NFL and MLB teams, allowing them to make upgrades to existing stadiums or construct new stadiums. The plan allows teams to get a bond up to their current state tax revenue; that comes out to nearly $29 million for the Chiefs and $26 million for the Royals. It also allows a 10% tax credit up to $50 million, and only up to half of the project.
There is a clawback trigger put in to protect Missouri. If a team relocates its headquarters or training facility to another state, the money will have to be returned.
The Chiefs and Royals have until June 30 to respond to Kansas’ STAR Bond offer, which includes funding up to 70 percent of the cost for both teams to relocate across the state line.
The Senate ed the legislation last week, and Governor Mike Kehoe is expected to sign the bill into law soon.
Kansas City Mayor Quinton Lucas shared his for the Missouri Legislature approving the Show-Me Sports Investment Act.
“I commend Governor Kehoe for crafting legislation that will keep the Chiefs and Royals in Missouri for years to come. With age in the Missouri legislature, Kansas City will continue its work with the Royals to build a robust and responsible area development and incentive plan to keep the Royals in Kansas City, Missouri—building on a generation of investment and growth in Downtown Kansas City,” Lucas said in a statement. “Kansas City also will provide necessary assistance to the Chiefs, their landlord Jackson County, and Clay County to build a long-term future for Arrowhead Stadium, one of the finest football venues in the world, and practice venues that can spur more development opportunities for the team and our region.”
The Chiefs and Royals also released statements in reaction to the House approval.
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