• Tue. May 28th, 2024

More stadium agreements in progress for professional sports franchises nationwide

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May 15, 2024

Recent developments show that several professional sports teams, including the Jaguars, are exploring the possibility of constructing new stadiums. Teams such as the Chicago Bears, Buffalo Bills, Kansas City Chiefs, Tennessee Titans, and Tampa Bay Rays are currently in various stages of negotiations with their respective cities to secure deals for new stadium projects.

In Florida, the Tampa Bay Rays have been discussing the construction of a new stadium for quite some time. Initially considering a move from St. Petersburg to Tampa, the team now has plans to build a new stadium in St. Pete’s historic Gas Plant District. The St. Pete city council is currently evaluating a $1.3 billion plan, with $600 million coming from taxpayers to fund the project.

Despite recent success, the Kansas City Chiefs’ stadium renovations are on hold after voters rejected a sales tax increase to fund upgrades to the stadium and a new stadium for the Royals. Speculation about the Chiefs potentially relocating to another city, including Kansas City, Kansas, has arisen as a result.

The Chicago Bears are in the early stages of their stadium project, unveiling plans for a $4.7 billion stadium to replace Soldier Field, with taxpayers funding half of the cost. The team aims to begin construction next summer. In contrast, the Tennessee Titans and Buffalo Bills have already started construction on their new stadiums, with the Titans’ project expected to cost around $2 billion, and the Bills’ stadium costing $1.5 billion, with majority of funding coming from taxpayers.

One notable difference between these projects and Jacksonville is the lack of state funding in Florida for professional sports teams’ stadiums or arenas. As these negotiations continue, it will be interesting to see how the future of these stadiums unfolds.

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