The billionaire owners of the Kansas City Chiefs and Kansas City Royals sought $6.4 billion in subsidies, offering a meager $266 million as a 'community benefits agreement' that lacked community group signatories.
Community groups left negotiations after the billionaires refused to address affordable housing and fair wages. The deal, dubbed 'historic,' highlighted the owners' philanthropy over justice, with an implicit threat of relocating the teams.
The article criticizes economic development subsidies, stating that corporations primarily driven by profit extract public money, leaving an imbalanced power dynamic between states in competition for jobs and tax revenues.
It emphasizes that subsidies do not heavily influence site-location decisions, with companies offering minimal benefits compared to the funds they receive, usually favoring white male-led corporations.
#sports-team-owners #economic-development-subsidies #community-benefits-agreement #corporate-profit #inequality-in-subsidies
Collection
[
|
...
]