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What You Need to Know About STAR Bonds

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What You Need to Know About STAR Bonds


The Kansas City Chiefs are in a unique position. With the current lease at the Truman Sports Complex expiring in 2031 and Jackson County voters overwhelmingly rejecting a 40-year extension of the three-eighths of a cent sales tax on April 2, could the Chiefs move from Kansas City, Missouri to Kansas City, Kansas? Momentum seems to be swinging toward the Kansas side of the state line after comments from Chiefs chairman and CEO Clark Hunt during the NFL Draft. Shortly after those remarks, renderings of a domed Kansas stadium made headlines. 

The stadium renderings that were released are not affiliated with the Chiefs but were brought forth by Kansas City-based architecture firm Manica. This isn’t the first stadium design by Manica, which was behind the design of the Las Vegas Raiders’ Allegiant Stadium and has put forth renderings for new Tennessee Titans and Chicago Bears stadiums as well. While these new stadium designs aren’t classic like the nostalgic Soldier Field in Chicago or Arrowhead Stadium in Kansas City, the modern vibe and design is very pleasing to the eye. For the Kansas City design, the new stadium would include a glass ceiling that would keep extreme weather out of the stadium. 

The renderings also show a mixed-use area outside of the stadium that would include hotels, dining options, a practice facility, green space, plenty of parking options and more. One thing the Chiefs (and the Kansas City Royals, for that matter) have never been able to capitalize on is building up commerce in the area surrounding the current stadiums at the Truman Sports Complex. This space would give the Chiefs ample opportunity to make additional revenue. A domed stadium would also be able to bring in huge national sporting events such as a Super Bowl for the NFL, an NCAA Final Four for college basketball, Wrestlemania for WWE, and more. 

Why would Kansas be able to offer the Chiefs a new stadium and not need to ask its residents and taxpayers to help cover the costs like in Jackson County and Kansas City, Missouri? The Kansas legislature would like to offer up to 100% of the project in STAR bonds, which is unique and a change of direction from the typical 50% given to a project in Kansas. 

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What are STAR Bonds?

Sales Tax and Revenue (STAR) bonds are “a financing tool that allows Kansas municipalities to issue bonds to finance the development of major commercial, entertainment and tourism projects,” as described on kansascommerce.gov. A new stadium for the Chiefs and the surrounding mixed-use area would apply here. These bonds are paid off through sales revenue generated by the district. Currently, 6.5% of every dollar spent in the district would go toward paying off the bond. Every ticket bought, food and drink purchased, hotel room rented, merchandise acquired, etc., would be taxed just as it always would, but a percentage of that tax goes toward paying off the bond. Essentially, if you are going to a game or hanging out in the district and spending money there, you’d be helping pay off the bond. If you don’t care about sports or going to hang out in the area, your tax dollars would not go toward the project. STAR bonds helped finance the Kansas Speedway and Children’s Mercy Park where Sporting Kansas City of Major League Soccer plays. 

It will be interesting to see how much money the Hunt family will want to put into the project themselves. They were willing to put $300 million of their own money toward renovations in the initial plan that Jackson County rejected. For a brand new stadium, there’s a chance the Hunts would put more equity into that type of move. The cost of building a new stadium would likely be between  $2-$3 billion. According to The Kansas City Star, a $1 billion investment would be required to get the STAR bonds, but there is potential for the entire project to be funded through the bonds. That would be a best-case financial scenario for the Hunt family and would be hard to turn down. 

The Kansas Legislature’s 2024 session ended on April 30 without the opportunity to hear the legislation on attracting sports teams to Kansas. There is anticipation that Kansas Gov. Laura Kelly will call a special session in two weeks to deal with another tax relief legislation that was not passed this past week. During this special session that could be called, the legislature would then have the opportunity to bring the legislation on sports teams to the table. 

Missouri will most certainly try to retain both the Chiefs and Royals, but will the sour relationship with Jackson County along with a lack of interest from the Missouri State Legislature in giving money to Kansas City sports teams hold the state back? The clock is ticking, and if the Chiefs can’t get an answer from Missouri until 2025 at the earliest, it may be in their best interest to look where they are wanted and can get money now.

Read More: Chiefs Owner Clark Hunt Discusses Leaving Arrowhead Stadium After Failed Jackson County Tax Vote

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Kansas

Top takeaways from Iowa's win over Kansas

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Top takeaways from Iowa's win over Kansas


The Sanford Pentagon in Sioux Falls sounded like Carver-Hawkeye Arena on Wednesday night as a capacity crowd of 3,400 watched Iowa defeat Kansas 71-58. The Hawkeyes jumped out to an 18-4 lead after the first quarter and never let the lead dip below eight points the rest of the way. They are now 5-0 for the first time since 2017.

Here are my top takeaways from the win and what it means for Iowa moving forward.



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Kansas State Coaches Searching For Answers After Two-Game Skid

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Kansas State Coaches Searching For Answers After Two-Game Skid


A season that began with national championship aspirations is now in danger of ending in disappointment.

Three weeks ago, the Kansas State Wildcats controlled their hopes of making the Big 12 title game and possibly the College Football Playoff. Now, they are just searching for another victory to salvage a once promising season.

“Obviously a disappointing performance on Saturday,” Kansas State coach Chris Klieman said about Saturday’s loss to Arizona State. “We had a long staff meeting yesterday and talked about a lot of things. We looked at offense, defense and special teams. I don’t think anybody could point a finger at anybody because I don’t think any unit played up to its capabilities.”

The Wildcats were in the driver’s seat after a victory against rival Kansas Oct. 26 in the annual Sunflower State Showdown. They were 7-1 with wins against Oklahoma State and Colorado, the lone blemish coming against BYU.

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The victory against the Jayhawks was followed by two upset losses to Houston and the Sun Devils, which all but ended their chances of making the Big 12 championship game.

With two games left against Cincinnati and Iowa State, the Wildcats are basically playing for a more appealing bowl game.

“Our job this week is to right the ship, because we have another opportunity,” Klieman said. “I want our seniors to have an opportunity to go out well.”

Shandel Richardson is the publisher of Kansas State On SI. He can be reached at shandelrich@gmail.com

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No. 16 Colorado heads to Kansas searching for crucial win for Big 12 title game aspirations

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No. 16 Colorado heads to Kansas searching for crucial win for Big 12 title game aspirations


KANSAS CITY, Mo. — No. 16 Colorado heads to Arrowhead Stadium to face Kansas on Saturday knowing full well where it stands in the Big 12 picture.

Beat the Jayhawks and conference bottom-dweller Oklahoma State and the Buffaloes will be playing for the title. Lose to Kansas and everything changes: They would need Arizona State and Iowa State to lose at least one more game, or BYU to lose its last two, and that would take their College Football Playoff aspirations out of their own hands.

Buffaloes coach Deion Sanders doesn’t sound as if there is any extra pressure on this weekend.

“Look at me, man. Do I look like I subscribe to pressure or do I look like I apply it?” Sanders asked. “We apply pressure.”

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In the new-look and jumbled Big 12, the Buffaloes (8-2, 6-1) are tied in the standings with the Cougars, but they are just a game ahead of Arizona State and Iowa State — and curiously enough, did not play any of the three. And while the Jayhawks (4-6, 3-4) are well off the pace, by virtue of a dizzying stretch of last-second losses, they might be playing the best of anyone.

Kansas knocked off then-No. 17 Iowa State before dealing then-No. 6 BYU its first loss on the road last weekend. The back-to-back wins over ranked teams are a first in school history, and the Jayhawks would love to make it three straight on Saturday.

“They have not given up, regardless of what their record may state,” Sanders said. “The last two weeks, they’ve knocked some people off their feet. It’s going to be a tremendous task for us. (Lance Leipold) is going to have those guys ready to play. We’re going to be in an environment that’s not conducive to us being successful in Kansas City.”

Colorado wide receiver Drelon Miller scores a touchdown after catching a pass against Utah in the second half of an NCAA college football game Saturday, Nov. 16, 2024, in Boulder, Colo. Credit: AP/David Zalubowski

Arrowhead Stadium

Kansas, which is playing its home finale Saturday, has been playing Big 12 games at Arrowhead Stadium while their on-campus stadium is renovated. Sanders played there once with the Falcons, returning kickoffs in a 14-3 loss on Sept. 1, 1991. He also played at neighboring Kauffman Stadium, home of the Royals, going 3 for 13 in three games with the Yankees in 1990.

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“I’m not as young as I once were,” Sanders said, “but I look forward to going there.”

Senior day

Kansas will be sending off 30 seniors in its home finale Saturday, many of whom were instrumental in taking the program from a winless laughingstock in 2020 to bowl games each of the past two seasons. Leipold is wary about focusing too much on the emotional sendoff when there is still a game to be played, and two wins needed to reach a third straight bowl game.

“It becomes an emotional drain, especially right before kickoff sometimes, so hopefully that’ll be a small positive of not being in Lawrence,” Leipold said. “I don’t want to take anything away from the guys, but if we can balance those things with what the day is, hopefully we can make a special day.”

Colorado wide receiver Travis Hunter, front, jokes with teammates as...

Colorado wide receiver Travis Hunter, front, jokes with teammates as he waits with quarterback Shedeur Sanders to do a television interview after an NCAA college football game against Utah Saturday, Nov. 16, 2024, in Boulder, Colo. Credit: AP/David Zalubowski

Award watch

Sanders interrupted a question this week after being reminded of how he said earlier this season that his son and quarterback, Shedeur Sanders, and two-way Heisman hopeful Travis Hunter would be top picks in the upcoming NFL draft.

“A lot of people didn’t believe me, huh? Remember I said Travis and Shedeur have the opportunity (at) one and two?” he said. “Everybody just pulled out a double-barrel shotgun and shot at me when I said that, right? Now it’s all coming to light.”

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Sanders has thrown 27 touchdown passes, one away from Sefo Liufau’s school record. Hunter is coming off a game in which the cornerback and wide receiver played 132 snaps — he has 74 catches for 911 yards and nine TDs, along with three picks.

Fast friends

Sanders and Leipold might at first seem like the most unlikely of buddies, given one was a Hall of Fame player and two-sport star while the other fought his way through the coaching ranks, beginning at Division III school Wisconsin-Whitewater. Yet when the Buffaloes joined the Big 12, Leipold reached out to Sanders and they became fast friends.

“I love him to life. He’s a friend,” Sanders said. “For these guys to, on their own account, reach out to me, to show me love and respect is tremendous.”



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