Reported 11 months ago
The Kansas governor signed a bill allowing the state to entice the Super Bowl champion Kansas City Chiefs and Major League Baseball's Royals by assisting in the funding of new stadiums. The bipartisan legislation, approved by the Republican-led Legislature and signed by Gov. Laura Kelly, will use state bonds to cover 70% of the new stadium costs, with revenues from sports betting, lottery ticket sales, and new sales and alcohol taxes repaying the bonds over 30 years. This effort comes after Missouri voters rejected a sales tax extension for the existing stadium complex, prompting the teams to consider new stadium plans, despite existing lease agreements lasting until 2031.
Source: YAHOO