Dave Helling Declares: Kansas City Stadiums Alone Don't Pay Back Public Debt

Our 2nd favorite local columnist has been repeating this insight and it's worth noting . . .

It works much the same way as the old movie biz: Theater never made money on tickets but selling popcorn until they didn't make money at all because everything got too expensive and people now just watch garbage on their phone.

Similarly, we appreciate this critical Kansas City financial breakdown from one of our more knowledgeable local journalists . . . Check-it . . .  

"Officials in both states insist this borrowing can be repaid without affecting public budgets. They are wrong. You can add the numbers up 100 different ways, and the conclusion is always the same: Stadium users alone do not provide enough cash to cover the public debt on either proposal.

"But don’t take my word for it. Both the Chiefs and Royals want developments around their stadiums because they know, as everyone knows, they’ll need additional revenue to repay lenders.

"And the city and states know it, too. They’ve created their own mechanisms to make sure lenders get their money back, plus interest, no matter how many people buy tickets to the games."

Read more via www.TonysKansasCity.com link . . .

The $6 billion gamble

The Kansas City region makes big bets on football and baseball