#stadium-financing

#stadium-financing

The Kansas City Chiefs announced Monday they will relocate across the Kansas-Missouri border in a new domed stadium that will be ready by the 2031 season. The move comes after a Kansas legislative committee approved a bonding package to support the move earlier in the day to lure one of the NFL's iconic franchises across the state line from Missouri and replace popular but aging Arrowhead Stadium. The Chiefs have played at Arrowhead Stadium on the Missouri side of Kansas City since 1972.

The Saudi Fund for Development and FIFA said the subsidized loans would be offered to member football associations to build or revamp stadiums. Saudi Arabia will host the men's World Cup for the first time in 2034. FIFA has also signed Saudi state oil company Aramco to be a 2026 World Cup sponsor. FIFA president Gianni Infantino called the agreement 'a crucial step in ensuring our FIFA Member Associations have the facilities to make football truly global.'

1980 - Steve Carlton wins his third Cy Young Award after posting a 24-9 record with a 2.34 ERA and 286 strikeouts. Carlton joins Sandy Koufax, Tom Seaver and Jim Palmer as the only pitchers with three Cy Young Awards. 1987 - San Diego Padres catcher Benito Santiago, who ended the season with a rookie-record 34-game hitting streak, is a unanimous selection as the National League Rookie of the Year.

AC Milan and Inter are expecting their new stadium to bring in an additional €150m in annual revenue, which would significantly boost their baseline. Following the green light from the city council, which is something we discussed in a Substack bonus a while back, Milan and Inter are now focused on completing the San Siro purchase. Indeed, work is currently underway to reach financing agreements with several banks.

"If the deed is finalised by the 10th, what does having San Siro mean in terms of a possible sale? Elliott, with or without the stadium, is interested and makes no difference," he said (via PianetaMilan). "Cardinale's debt, around €500m, remains. Cardinale must pay it to them, stadium or no stadium. Elliott have already sold Milan with a vendor loan. The stadium issue is more about Cardinale.

Angel Stadium turns 60 next year. By then, the city of Anaheim hopes to learn how many hundreds of millions of dollars it might take to keep the stadium viable for decades to come. The Angels' stadium lease extends through 2032, and the city manager said Tuesday there are no talks between the city and the team about what might happen beyond then.

Securing this landmark financing gives us the green light to deliver Nou Mestalla -- a world-class stadium that will power the club's growth for generations.