KANSAS CITY, Mo. — The Chiefs will continue calling Arrowhead Stadium the club’s home for 25 more years — and up to 15 years more — based on the summary of the new lease terms and development agreement reached with the Jackson County Sports Complex Authority.
The clubs are holding a press conference at 3 p.m. Wednesday to discuss the new lease agreements. Chiefs president Mark Donovan will represent the club and answer questions.
If Jackson County voters approve the 3/8-cent sales extension on Tuesday, 50% of the new sales tax will be dedicated to the reimagined Arrowhead fund. The fund will also receive 50% of the existing sales tax levy, along with all parking user fees. The existing sales tax will sunset at the end of this year with the new 40-year sales tax starting on Jan. 1, 2025.
The summary of the lease agreement obtained by Chiefs Digest includes a term of 25 years with renewal options of five years each. The summary indicates the new lease term commences upon the Royals vacating and demolishing Kauffmann Stadium. However, a graphic provided by the Chiefs at Wednesday’s press conference indicates the Chiefs’ term commences on Jan. 1, 2025 and runs through 2050 with three five-year club options through 2065.
The Chiefs’ current lease runs through January 2031, and this agreement would supersede those terms.
The Jackson County ticket preference plan remains in the new agreement, giving the county’s residents priority seating and ticket purchasing for all events at the stadium and “no Parking User Fee.”
The Chiefs will be responsible for any overruns on the project. The county bears no responsibility for any costs over the 50% contribution of the sales tax. Other funding sources will include anticipated contributions from the state of Missouri and the City of Kansas City but no dollar amount is assigned in the lease summary. The Chiefs are estimated to contribute $300 million to the project.
Jackson County will also not be responsible for the demolition of Kauffmann Stadium. The teams will bear the costs of demolition but the lease permits a new bond issue can be used to fund the expenses.
The Chiefs would be responsible for paying $1.1 million in rent per year plus percentage rent. The club is also responsible for the cost of casualty insurance.
