The two largest professional sports franchises in Kansas City, the Chiefs and the Royals, have reached a new lease agreement with the Jackson County Sports Complex Authority.
Mark Donovan, the team president of the Chiefs, and Brooks Sherman, the president of business operations for the Royals, formalized the agreement on Wednesday afternoon at Arrowhead Stadium.
Under the terms of the lease, Arrowhead Stadium will be rented for $1.1 million annually, while Kauffman Stadium will cost $2.75 million per year.
Sherman expressed satisfaction with the agreement, emphasizing the importance of maintaining a long-term presence for both teams in Kansas City. He credited the longstanding partnership between the franchises and the city, harking back to the vision of Lamar Hunt and Ewing Kauffman.
The Royals’ lease is set to commence in 2028, coinciding with the completion of the new stadium, and will extend for 40 years with two renewal options of five years each. Conversely, the Chiefs’ lease begins in 2025, spanning 25 years with three additional options to renew for five years each.
Donovan highlighted the Chiefs’ commitment to a 25-year lease for Arrowhead Stadium, with provisions for potential extensions. He underscored the importance of these extensions, potentially spanning up to 40 years, in light of the stadium’s aging infrastructure.
Key conditions of the Chiefs’ lease include a requirement to host all home games at Arrowhead Stadium, with allowance for one game to be played internationally. Additionally, the Chiefs will bear responsibility for the upkeep and insurance of the renovated stadium.
For the Royals, the lease stipulates that they must play 90 percent of their home games at the new stadium.
Acknowledgment was given to Jackson County Sports Authority Chairman Shawn Foster and the Jackson County Legislature for their role in facilitating the lease agreement.
County Executive Frank White responded to reports of the signed lease agreement, clarifying that the documents do not constitute leases with Jackson County. He emphasized the need for transparency and public scrutiny in matters involving public assets.
White urged the involved parties to release the documents to the public and media for thorough review, emphasizing the importance of transparency in matters of significant public interest. Further updates will be provided once the documents are made available and reviewed.