KSHB 41 reporter Charlie Keegan covers politics on both sides of the state line. If you have a story idea to share, you can send Charlie an email at charlie.keegan@kshb.com.
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Speculation about the Kansas City Royals building a new stadium in Overland Park, Kansas, got new life Wednesday.
The team announced a group affiliated with the Royals purchased the mortgage on Aspiria, the former Sprint world headquarters near 119th Street and Nall in Overland Park.
This means the group essentially acts as the bank for Occidental Management, the group which operates the Aspiria campus, according to Ryan Schulteis of Reece Commercial Real Estate, who is not involved in the deal.
Occidental Management declined to comment on the mortgage sale.
Schulteis said it’s common for mortgages to sell. He sees three reasons why the Royals-affiliated group might want to own this mortgage: it better positions the team to build a new stadium at the site, it creates leverage in negotiating with Missouri on stadium financing options, or the group might just think it’s a worthwhile investment.
“There’s room to build a stadium if you wanted to,” Schulteis said of the site. “You still have to figure out parking and traffic. I think it could have some potential for the Royals.”
The Kansas Department of Commerce has permission to negotiate a public financing deal to pay for up to 70% of a new Royals stadium using STAR bonds. A spokesperson wouldn’t say how the mortgage sale affects those negotiations.
“Because all major economic development projects require discretion and confidentiality, the department will not disclose any details regarding the activity surrounding negotiations or future agreements.”
In April, the state and city announced tech giant Fiserv was placing 2,000 employees at Aspiria, occupying two buildings.
A Fiserv spokesperson said the company’s aware of the mortgage sale, but wouldn’t comment how the change impacts its plans.
“We continue to work with Occidental and have no comment on speculation of what may happen at a later date.”
Schulteis believes there’s room for a stadium and corporate offices at the site.
“I would want to have my offices close to the stadium because I think that would be a good draw for future employees,” he said.
Blue Chip Cookies across Nall Avenue from the Aspiria site thinks a new stadium could be a draw.
“I think it would kind of help us out from the business side of things; getting more orders, having more people find our name,” Brooke Fisher said.
Some of Fisher’s youngest customers from the neighborhood like the idea of the Royals moving to Overland Park.
“It would be a lot easier to go to games,” said Eli, 10.
“I would go there lots more,” added his brother, Hayes, 8.
A spokesperson from Overland Park wouldn’t comment on the specifics of the mortgage sale.
"Overland Park is supportive of our hometown teams," the city spokesperson said. "We know the Chiefs and Royals belong in the Kansas City region and will do everything in our power to keep them here."
