Royals CEO John Sherman announces vision to build $2 billion downtown 'ballpark district'
Sherman signaled his intent to leave the team's home at the Truman Sports Complex when the current lease is up, saying a new ballpark would be a "far better investment."
In an open letter to baseball fans and the community, Kansas City Royals chairman and CEO John Sherman confirmed what he had been hinting since the team was purchased from the David Glass family: the Royals are moving into the Kansas City, Missouri, downtown area.
A site has not been finalized yet, but Sherman says several locations for a new stadium and a surrounding ballpark district are under consideration.
“When its current lease in Jackson County concludes at the end of this decade (in 2031), it will be 60 years old,” Sherman stated in the letter. “The renovations required at The K (Kauffman Stadium) to achieve our objectives would cost as much or more than the price tag to develop a new ballpark.”
Sherman said the club will be seeking public input over the next approaching months.
In addition to a ballpark, Sherman said he envisioned shops, hotels, restaurants and affordable housing options.
The total price tag projects to surpass $2 billion.
“To accomplish this move, our plans will be contingent on continuing our public-private partnership and investment with multiple local jurisdictions and the state of Missouri," Sherman said. He added that the club intends to invest hundreds of millions of dollars directly into the project.
Sherman said the Royals will not ask Jackson County citizens to pay more tax dollars than what they already do in the current lease.
Kauffman Stadium opened in 1973.