John Sherman's Wife Makes Stunning Declaration on Royals/Chiefs Future

[T-post Tom]

In comments under a public Facebook post, Marny Sherman said, "Unfortunately neither team will work with Jackson County again. The lack of leadership has lost the city two treasured assets."

Not a good look for an owner’s wife imho. Didn’t realize that she was also a spokesperson for the Hunt family.

"Unfortunately neither team will work with Jackson County again," wrote the wife of Royals owner John Sherman in a Facebook comment. https://t.co/Kd5o8mCTu8

— KCTV5 News (@KCTV5) April 5, 2024

https://kckingdom.com/posts/john-she...e-01htq9p3m4b8

[LoneWolf]

Originally Posted by vonBobo

The city didn't budget to be carrying P&L loans for so long. This is exactly what you get when a city bends over for developers, all the risk and very little reward.
And I'm happy that it looks like the city isn't going to add more debt to get out of the current mess.

What risk? It’s a defined tax that is already being paid. It’s not like there is some balloon payment at the end. The teams would be locked into leases for 40 years.

[vonBobo]

Originally Posted by LoneWolf

What risk? It’s a defined tax that is already being paid. It’s not like there is some balloon payment at the end. The teams would be locked into leases for 40 years.

Did you know that Truman sports complex is in debt?

The risk comes to the People with these front loaded sweetheart deals to investors and developers. They all get paid first and then the city is left with the bills. Here's something to get you started; https://www.lincolninst.edu/publicat...dden-costs-tif

[Skyy God]

Originally Posted by IowaHawkeyeChief

... Thinks potholes will be fixed if the 3/8 sales tax goes away...

I’m not anti-funding Arrowhead improvement.

Just come back with a better plan.

Slagging the voters and threatening to move is weak sauce.

[IowaHawkeyeChief]

Originally Posted by Skyy God

I’m not anti-funding Arrowhead improvement.

Just come back with a better plan.

Slagging the voters and threatening to move is weak sauce.

Yet the Chiefs more or less wanted it to fail by their plan and efforts. The Chiefs gained a ton of leverage, and will most likely move to a new venue in Kansas or another county. I hate that, but his could have been locked up for 40 more years...

[crayzkirk]

IMO, all you have to do is look at Power & Light to see the problem; guaranteed returns for the investors and the city makes up the shortfall. There's only so much entertainment money available in the KC area; to take from one to pay the other. Just have a look at Westport and the Plaza to see how the improved entertainment has helped.

Revenue sharing in baseball would make this easier to swallow; as it is, IMO, fans in the small market areas are being penalized and forced to pay because the large market teams don't want an even playing field.

[BWillie]

Originally Posted by crayzkirk

IMO, all you have to do is look at Power & Light to see the problem; guaranteed returns for the investors and the city makes up the shortfall. There's only so much entertainment money available in the KC area; to take from one to pay the other. Just have a look at Westport and the Plaza to see how the improved entertainment has helped.

Revenue sharing in baseball would make this easier to swallow; as it is, IMO, fans in the small market areas are being penalized and forced to pay because the large market teams don't want an even playing field.

The Power and Light District has been an insane success from a marketing and advertisement standpoint. Puts the city on the map. Whenever there is a Chiefs SB, Royals World Series, World Cup, etc. What do the TV networks show? Power and Light

[vonBobo]

Originally Posted by BWillie

The Power and Light District has been an insane success from a marketing and advertisement standpoint. Puts the city on the map. Whenever there is a Chiefs SB, Royals World Series, World Cup, etc. What do the TV networks show? Power and Light

That sounds exactly like when someone asks me to work for free, "This will be great exposure for you!"

[Fish]

Originally Posted by BWillie

The Power and Light District has been an insane success from a marketing and advertisement standpoint. Puts the city on the map. Whenever there is a Chiefs SB, Royals World Series, World Cup, etc. What do the TV networks show? Power and Light

You measure success by the 5 second clips during game broadcasts?

Like the giant bad mitten shuttlecock?

[Pablo]

Originally Posted by Fish

You measure success by the 5 second clips during game broadcasts?

Like the giant bad mitten shuttlecock?

KC Scout statue has been an overwhelming success.

[AussieChiefsFan]

Originally Posted by BWillie

The Power and Light District has been an insane success from a marketing and advertisement standpoint. Puts the city on the map. Whenever there is a Chiefs SB, Royals World Series, World Cup, etc. What do the TV networks show? Power and Light

Power & Light and the surrounding streets definitely seemed like the nicer part of the downtown when I visited.

[ghak99]

Who knew having a place to film people looking like they're standing around watching tv in a big garage could put a city on the map?

No way the station would have worked for that.

[ChiefsCountry]

Originally Posted by AussieChiefsFan

Power & Light and the surrounding streets definitely seemed like the nicer part of the downtown when I visited.

Power & Light and the Crossroads area south of it is a really nice and safe place. It really cleaned up downtown Kansas City.

[Fish]

The economic reality of the Power & Light district:

During Power & Light's lifespan, through April 2022, Kansas City has picked up the tab on at least $167.1 million in total principal and interest payments, an average of $10.4 million a year, the Kansas City Business Journal determined through analysis of city financial reports.

Power & Light's debt service stems from $295 million in bonds the city issued in 2006 to help Baltimore-based The Cordish Cos. build the eight-block, $350 million project. But in all except one fiscal year — 2008, which covered Power & Light's opening — the cocktail of local and state sales, property and earnings tax revenues it pledged to pay off the bonds has fallen short.

[...]

In 2004, the City Council in 2004 approved Power & Light's development terms after reviewing a report from C.H. Johnson Consulting, which concluded that the district would more than cover its debt service using $619 million in new taxes over a 25-year period. To date, revenues available from the district for bond payments have totaled $104 million.

https://www.bizjournals.com/kansasci....html?ana=wdaf

[KCUnited]

If you've got some time to waste look into Chase Field with a lease up in 3 years with no plan in place (for all you its got to get done in 2 years people)

High level, PHX is worried about the downtown blight an abandoned stadium will bring to downtown and wants to work something out to keep up their downtown destination momentum but the Diamondbacks want a location with more residential/commercial combo thats more the trend (cough Legends cough) and have been pitching other location like Henderson, NV (for leverage)

Plus back in the original 3-1 vote that approved Chase as a downtown stadium one of the 'yes' votes was shot by the opposition. So it can always get worse

https://www.azcentral.com/story/news...y/72898676007/

[BWillie]

Originally Posted by ChiefsCountry

Power & Light and the Crossroads area south of it is a really nice and safe place. It really cleaned up downtown Kansas City.

Revolutionized downtown and created momentum for other areas to improve like the River Market and West Bottoms.