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What is the significance of the Chiefs' new $3 billion stadium?
You know Dasher and Dancer, Prancer and Vixen, Comet and Cupid, and Donder and Blitzen. But do you recall? What's that? The most famous reindeer of all. Come on! Rudolph the Red-Nosed Reindeer. Just a dynamite grab by Myers behind the glass here. DMX, right? Bingo. R.I.P. What's Cookin' is brought to you by your local Geico rep, Tim Hester. Thank you, Mr. Hester. Boom, got it. And, uh...
What's cooking? Well, a lot of Christmas Eve dinners right now, quite literally, are cooking, including mine at home. Merry Christmas. Happy holidays. Hope that you have enjoyed the four hours with me today instead of Pomp and Joe. Definitely less bizarre noises and nicknames. Those are all on Joe's end. Pomp doesn't really do bizarre noises and nicknames. Pomp is really the
He's the steady in that show. And Joe is, well, anything but the steady in that show. I wanted to finish out with this. By the way, the Fan Hotline, you heard Shelby Cassese and Colin Beasley on that during the course of the show. If you want to go back and listen to what they had to say, you can using the Odyssey app and the rewind function. Fan Hotline presented by Sullivan Super Service.
Pittsburgh trusted plumbing and HVAC provider for over 50 years. There's a story out of Kansas. And the guys were actually in the back. Speaking of stories out of Kansas, they were watching The Wizard of Oz. But that's not what we're talking about here. The Chiefs are going to get a new stadium. It's in Kansas. And it's going to be a dome stadium.
And there's a story out that a man by the name of Joe Pompliano, who sounds like an actor in The Sopranos, but he's the host of the Joe Pomp Show, another pomp doing big things, not the pomp, but another pomp. And he tweeted out this, and I find this fascinating with this stadium deal that the Chiefs are getting.
After reading through the 33-page term sheet, I think, for the Chiefs' new stadium in Kansas, I think it's one of the most lopsided stadium deals in history. Kansas is essentially giving the Chiefs $3 billion in stadium funding, mixed-use development funding, and tax incentives, yet getting virtually nothing in return.
The Chiefs get to keep 100% of the revenue from all stadium activities, including ticket sales, concessions, sponsorships, naming rights deals, personal seat licenses, and more. That applies to NFL games and other events like concerts, basketball games, etc. Kansas will own the stadium with the Chiefs paying $7 million in rent annually. But that money doesn't go back to the state.
It goes to an account the Chiefs can use for renovations, repairs, and operational expenses. That means that the Chiefs can use their own rent money to hire stadium security, parking staff, and concession vendors throughout the season. I know Kansas had to offer a great deal to get the Chiefs to leave Arrowhead, but this is worse than I expected. Donnie's in with us now.
He's going to have you for the next four hours on the PM team. What do you make of that, Donnie? And are we not setting the stage now for other teams, and I think local teams as well, to be included, To now say, give us all the money. We're going to give you nothing back in return, essentially, and build us a new stadium.
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