American Royal leaders propose tearing down Kemper

[beautyfromashes]

But what about the lease the AR was crying about. Doesn't it cut both ways. Or would the city just let them out of the lease?

[rxlexi]

I don't see any way that if the Royal leaves, the BBQ stays.

Honestly, even the rest of the Royal (livestock shows, rodeos) is well-suited to being the Bottoms/historic stockyards. I want to be creating MORE of that type of ag history, Western, etc. atmosphere down there, not less of it.

It could actually all be somewhat fun stuff to attend if it was better promoted, etc. Look how popular hayrides and pumpkin patches and stuff like the Red Barn Farm (Weston) are that time of year.

[pash]

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[KCPowercat]

As a past BBQ contest participant and frequent observer, it will somewhat lose it's atmosphere outside of the bottoms.

[shinatoo]

Thing I like about reuse plans is that if some fine day, we grow to the point that we need a second 18k arena, we can always convert it back.

[taxi]

This is all very simple. We just rename it MR BBQ WC and keep it in the bottoms.

'Merican Royale BBQ World Championship.

[pash]

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[aknowledgeableperson]

But what about the lease the AR was crying about. Doesn't it cut both ways. Or would the city just let them out of the lease?

All one would have to do is shut down the current AR organization and have it sell the name to another entity.

[pash]

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[aknowledgeableperson]

The name of a company or an organization is an asset. And like any other asset it can be sold or bought. And a business or an organization can make a decision to cease operations.

Given the AR's status with the city now with its use of city facilities and the revenues it generates I seriously doubt the city would put up much of a fight.

That is what basically happened when the KC Scouts folded in 1976.

[flyingember]

if they were smart the trademark would be owned by a corporation that has a contract with the actual entity to use the branding, with terms in favor of the name holder, etc. Like say the entity gets a lawsuit it immediatelly kills the right to use the name.

the royal is run by people that know how to do this. I'd be surprised if they haven't already done this

I'm sure they go way further like having a seperate operational company putting on the events, responsible for safety and such. so once they find a good location the entire event can move very easily.

so instead of a lawsuit having access to all their money it can only get to what that company has. if you hire a company on a fixed cost basis that's all that the lawsuit has access to.

[loftguy]

I propose the 'Merican Roil BBQ.

[pash]

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[flyingember]

The name of a company or an organization is an asset. And like any other asset it can be sold or bought. And a business or an organization can make a decision to cease operations.

And transferring a corporation's assets to avoid payment of contractual liabilities is fraud.

Only if the asset is used as collateral against a loan.

If you take a car loan it doesn't mean you can't sell your house or your furniture. Yes, it's exactly like that.

[pash]

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[flyingember]

I was talking about a hypothetical lawsuit and separate entities. Where did creditors and bankruptcy come in?

[aknowledgeableperson]

The American Royal Association is governed by a Board. All it takes is the establishment of a completely separate Board and that second Board takes possession of the assets, in this case the name of the American Royal.

All I know is that the Scouts assets were secured by a new ownership with the old ownership still liable for the liabilities, and it wasn't a bankruptcy. Maybe later with the disposition of other assets which basically was what the new owners paid to acquire the team at a fire sale. Three of those liabilities were:
(1) a long term lease for the use of Kemper Arena which became null and void when the balances due the city up to the end of the 76/77 season were paid.
(2) a bank loan for the construction of the restaurant in the lower level. The city, team, and bank negotiated an agreement that had the team walking away and any rent paid by the restaurant operator to the city was turned over to the bank for a period of 5 years.
(3) a bank loan for the construction of the suites in Kemper. This loan was handled the same way as the restaurant.

[pash]

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[aknowledgeableperson]

Looks like Clay County is now in the running for a AR relocation. I am not sure how this would be pulled off by the AR and wherever it moves, if it does. Not only would an arena have to be built but also facilities for stalls and pens for the animals plus a few other facilities. Basically would have to duplicate all that is south of Kemper.

[beautyfromashes]

How about we trade Patterson a Kemper teardown and rebuild for a Cerner downtown tower as the cities new highest building?