Read "Kansas City Chiefs will announce move to Kansas to build new stadium: sources" on SmartNews: https://l.smartnews.com/p-6Pdm5BAI/5d4mC2
The Chiefs have played at Arrowhead Stadium in Kansas City, Missouri, since 1972, and it's been home to the birth of a recent football dynasty. Their current lease expires after the 2030 season.
The seismic decision comes after a year and a half of the Chiefs playing Kansas and Missouri officials off of each other to secure the most favorable stadium deal.
The move is likely to send shockwaves across the Chiefs' home state of Missouri, where officials have routinely touted ongoing negotiations to keep the team inside state lines.
In April 2024, Jackson County voters rejected the 40-year extension of a local sales tax that would have funded a new Royals Stadium and major renovations at Arrowhead Stadium.
When the ballot question was rejected, Kansas officials seized on the opportunity to make their own pitch.
Kansas plans to fund the development through a supercharged version of its Sales Tax and Revenue, or STAR bonds program, which is designed to fund regional attractions by paying back developers with future sales tax revenue generated by tourists. Per the program, the bonds can fund up to 70% of a new stadium project. It's not yet clear how much of a new Chiefs stadium will be publicly subsidized.
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