Downtown Baseball Stadium
-
- Strip mall
- Posts: 299
- Joined: Wed Apr 12, 2023 1:35 pm
Re: Downtown Baseball Stadium
It's a shame some of you are getting paid 0 to be a Royals mouthpiece. Sly James is getting 700k for it
-
- City Center Square
- Posts: 12657
- Joined: Thu Mar 11, 2004 10:31 pm
Re: Downtown Baseball Stadium
They borrow the money much like they did for that $500,000 house and 2 cars, and buying stocks on margin, and to keep their business open.DColeKC wrote: ↑Thu Mar 28, 2024 10:51 am
It's exhausting. It really shows the lack of understand many people have about wealth in general.
I wonder if they thought in everyday people terms if it would help. If I own a $500,000 dollar house and have a few paid off cars, I'm worth say $600k but does that mean I have 600k available to go build something? Of course not. Do we really expect most of these owners to pay for these things in full themselves? People see big numbers but not the real numbers. Sure, a few MLB teams make 400 million a year in revenue but that's top line revenue and we don't see what the bottom line nets out to. The sports teams I've worked with see a very small net profit each year, less than 3 million in fact. So to pretend these guys are getting rich off the team and can afford to build expensive stadiums alone is a joke.
I know that is a simplistic reply but usually the rent the teams pay for the arena/stadium doesn't cover the cost to reimburse the taxpayer.
And BTW the value of the teams keep going up that is how the owners get rich. Very few team owners are in it for the good of the community like Ewing Kauffman. The owners get into the game for many different reasons but to lose money isn't one of them.
- DColeKC
- Ambassador
- Posts: 3921
- Joined: Thu Jul 25, 2019 10:50 am
- DColeKC
- Ambassador
- Posts: 3921
- Joined: Thu Jul 25, 2019 10:50 am
Re: Downtown Baseball Stadium
Yes but the valuation is meaningless until they go to sell which doesn’t happen often. Flipping mlb teams isn’t common. What I’m saying is why would a billionaire leverage the entirely of his assets to build something that he only profits off of when it sells? I’m also over simplifying this but basically saying most mlb owners simply can’t honestly afford to do this without public help.aknowledgeableperson wrote: ↑Thu Mar 28, 2024 12:18 pmThey borrow the money much like they did for that $500,000 house and 2 cars, and buying stocks on margin, and to keep their business open.DColeKC wrote: ↑Thu Mar 28, 2024 10:51 am
It's exhausting. It really shows the lack of understand many people have about wealth in general.
I wonder if they thought in everyday people terms if it would help. If I own a $500,000 dollar house and have a few paid off cars, I'm worth say $600k but does that mean I have 600k available to go build something? Of course not. Do we really expect most of these owners to pay for these things in full themselves? People see big numbers but not the real numbers. Sure, a few MLB teams make 400 million a year in revenue but that's top line revenue and we don't see what the bottom line nets out to. The sports teams I've worked with see a very small net profit each year, less than 3 million in fact. So to pretend these guys are getting rich off the team and can afford to build expensive stadiums alone is a joke.
I know that is a simplistic reply but usually the rent the teams pay for the arena/stadium doesn't cover the cost to reimburse the taxpayer.
And BTW the value of the teams keep going up that is how the owners get rich. Very few team owners are in it for the good of the community like Ewing Kauffman. The owners get into the game for many different reasons but to lose money isn't one of them.
- Highlander
- City Center Square
- Posts: 10219
- Joined: Mon Jun 28, 2004 1:40 pm
- Location: Houston
Re: Downtown Baseball Stadium
Forbes puts the value of the Royals at 1.2 billion. Sherman paid 1 billion for the Royals 5 years ago. So that's a 4% return on his investment annually if he sold it at that value to another KC ownership group. He would have done better investing his money elsewhere. He would get a substantially better return if he sold it to an out of KC ownership group as the Royals have one of the lowest values of any MLB teams. Even if he sold the Royals to an ownership from a similar sized metro like Nashville or Austin (both of which are growing much faster than KC), he could probably get 1.6 billion given the valuation of some of the better performing small market teams. It's not like he's in this for the money.DColeKC wrote: ↑Thu Mar 28, 2024 12:34 pmYes but the valuation is meaningless until they go to sell which doesn’t happen often. Flipping mlb teams isn’t common. What I’m saying is why would a billionaire leverage the entirely of his assets to build something that he only profits off of when it sells? I’m also over simplifying this but basically saying most mlb owners simply can’t honestly afford to do this without public help.aknowledgeableperson wrote: ↑Thu Mar 28, 2024 12:18 pmThey borrow the money much like they did for that $500,000 house and 2 cars, and buying stocks on margin, and to keep their business open.DColeKC wrote: ↑Thu Mar 28, 2024 10:51 am
It's exhausting. It really shows the lack of understand many people have about wealth in general.
I wonder if they thought in everyday people terms if it would help. If I own a $500,000 dollar house and have a few paid off cars, I'm worth say $600k but does that mean I have 600k available to go build something? Of course not. Do we really expect most of these owners to pay for these things in full themselves? People see big numbers but not the real numbers. Sure, a few MLB teams make 400 million a year in revenue but that's top line revenue and we don't see what the bottom line nets out to. The sports teams I've worked with see a very small net profit each year, less than 3 million in fact. So to pretend these guys are getting rich off the team and can afford to build expensive stadiums alone is a joke.
I know that is a simplistic reply but usually the rent the teams pay for the arena/stadium doesn't cover the cost to reimburse the taxpayer.
And BTW the value of the teams keep going up that is how the owners get rich. Very few team owners are in it for the good of the community like Ewing Kauffman. The owners get into the game for many different reasons but to lose money isn't one of them.
Last edited by Highlander on Thu Mar 28, 2024 1:33 pm, edited 1 time in total.
- KCPowercat
- Ambassador
- Posts: 34059
- Joined: Mon Oct 07, 2002 12:49 pm
- Location: Quality Hill
- Contact:
Re: Downtown Baseball Stadium
Don't feed trolls.
-
- Strip mall
- Posts: 299
- Joined: Wed Apr 12, 2023 1:35 pm
Re: Downtown Baseball Stadium
Except the core isn't growing
- DColeKC
- Ambassador
- Posts: 3921
- Joined: Thu Jul 25, 2019 10:50 am
Re: Downtown Baseball Stadium
-
- Strip mall
- Posts: 299
- Joined: Wed Apr 12, 2023 1:35 pm
Re: Downtown Baseball Stadium
https://www.kcur.org/news/2023-04-03/di ... nties-grow
- beautyfromashes
- One Park Place
- Posts: 7290
- Joined: Mon Mar 21, 2005 11:04 am
Re: Downtown Baseball Stadium
^^^
The East Side 3rd district has largely emptied out with African American populations moving to Raytown and Lees Sunmit-type suburbs for better schools and less crime. West side districts and downtown proper have seen significant growth. I think you’ll see much more eastern movement of home renovations and development as prices in Midtown/Brookside/Waldo etc become more expensive. The next census growth will be dramatic.
The East Side 3rd district has largely emptied out with African American populations moving to Raytown and Lees Sunmit-type suburbs for better schools and less crime. West side districts and downtown proper have seen significant growth. I think you’ll see much more eastern movement of home renovations and development as prices in Midtown/Brookside/Waldo etc become more expensive. The next census growth will be dramatic.
-
- Oak Tower
- Posts: 5550
- Joined: Fri Sep 03, 2004 2:50 pm
- Location: Mount Hope
Re: Downtown Baseball Stadium
This discussion is off topic but it takes a while to effectively do a heart transplant on a city.
- DColeKC
- Ambassador
- Posts: 3921
- Joined: Thu Jul 25, 2019 10:50 am
Re: Downtown Baseball Stadium
Downtown growth is great and when I say downtown, that's generally considered to be River Market, West Bottoms, Columbus Park, the Central Business District (CBD), Crossroads, Westside, Crown Center, Union Hill and Hospital Hill neighborhoods.
It jumped 30% from 2010 to 2021 and we've added over 4,000 in the last three years. The rest of Kansas City grew at 10% during the same time period.
To get us back on topic, a baseball stadium will only help this growth.
-
- Parking Garage
- Posts: 5
- Joined: Fri Jul 29, 2022 1:21 pm
Re: Downtown Baseball Stadium
Interesting preview of an interview from KMBC with John Sherman.
https://youtu.be/BKOzjisZxXk?si=1IeJfIWtqMz-Uwkx
When asked if “exploring all options” includes leaving the market Sherman said that it was never on his radar and that he had never said that. I’m assuming that this means that even if the vote on the 2nd is no, the Royals are going to continue to work with the city and county to get a new stadium (perhaps a retry on the fall ballot), and if not then they might look elsewhere, but within the metro.
https://youtu.be/BKOzjisZxXk?si=1IeJfIWtqMz-Uwkx
When asked if “exploring all options” includes leaving the market Sherman said that it was never on his radar and that he had never said that. I’m assuming that this means that even if the vote on the 2nd is no, the Royals are going to continue to work with the city and county to get a new stadium (perhaps a retry on the fall ballot), and if not then they might look elsewhere, but within the metro.
-
- Alameda Tower
- Posts: 1347
- Joined: Sun Sep 18, 2022 8:39 pm
Re: Downtown Baseball Stadium
- im2kull
- Bryant Building
- Posts: 3962
- Joined: Tue May 24, 2005 4:33 pm
- Location: KCMO
Re: Downtown Baseball Stadium
Precisely.Chris Stritzel wrote: ↑Tue Mar 26, 2024 9:57 pmThe impression I get from Kull's post is that if they had to do this again, squash any indication that a demise is imminent for the K. Make the sales pitch solely for a new stadium and leave the discussion for what happens to K for a later time.beautyfromashes wrote: ↑Tue Mar 26, 2024 9:39 pmWhy would we keep the K if we have a downtown ballpark?im2kull wrote: ↑Tue Mar 26, 2024 9:33 pm If the Royals were smart they would de-couple the K from their ask for a tax to support a downtown stadium plan. The "Save the K" crowd would instantly be mooted if there was no indication that the K was "Going away". The county preparing a demo RFP and the Royals indicating that the K will face demolition regardless of the vote were idiotic moves to win a vote.
- DColeKC
- Ambassador
- Posts: 3921
- Joined: Thu Jul 25, 2019 10:50 am
Re: Downtown Baseball Stadium
John Sherman said today that the Royals would be putting between 300m and 400m into the stadium project.
- beautyfromashes
- One Park Place
- Posts: 7290
- Joined: Mon Mar 21, 2005 11:04 am
- DColeKC
- Ambassador
- Posts: 3921
- Joined: Thu Jul 25, 2019 10:50 am
Re: Downtown Baseball Stadium
They've always said they're going to put "over a billion" into the village development but today was the first day he said specifics about how much money the team would put towards the stadium specifically.
- beautyfromashes
- One Park Place
- Posts: 7290
- Joined: Mon Mar 21, 2005 11:04 am
Re: Downtown Baseball Stadium
He said specifically that they're putting 300-400m into the stadium specifically or "stadium project" because I'm worried this project is getting pared down and the village portion will be close to nonexistent. I don't think they have the votes from the council that they once thought and city money will be hard to get. I think they take the vote money, their own and some money from the state to get to $1m and build the stadium and the hotel and entertainment dies. There are hotels in the area to take the demand including the city-funded Loews on the new park and P&L gets the entertainment piece. That's really what they wanted in the first place with this location.DColeKC wrote: ↑Fri Mar 29, 2024 1:50 pmThey've always said they're going to put "over a billion" into the village development but today was the first day he said specifics about how much money the team would put towards the stadium specifically.
-
- New York Life
- Posts: 433
- Joined: Mon Nov 25, 2013 7:03 pm
Re: Downtown Baseball Stadium
I scaled municipal stadium onto the crossroads site. A stadium that has almost the exact same number of seats as what they are proposing. Oak doesn't even need a road diet to make a stadium fit. Sure a new stadium is going to have wider concourses, more bathrooms and amenities, but the site can easily work while keeping Oak open and even saving most of the surrounding buildings.