Kum & Gone

drmwevr08

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From the DSM Business Record:

"Krause seeking more public funding for Des Moines Soccer Stadium
Des Moines Register: Trying to fill a funding gap for the downtown soccer stadium he has long envisioned, Krause Group CEO Kyle Krause has met with city and county officials over the last two weeks to lobby for more public funding. Krause, whose family launched the Kum & Go convenience store chain, told local officials that his company needs tens of millions of dollars more to finish the project. The request comes after the Polk County Board of Supervisors approved up to $7 million for the project in April 2021 and the state agreed to provide $23.5 million. In addition, the city has agreed to provide an incentive package worth an undetermined amount. Polk County Administrator John Norris and Des Moines City Council members Carl Voss and Josh Mandelbaum confirmed that Krause has asked Des Moines leaders to increase the incentives. The City Council would need to approve any final agreement for the planned 6,300-seat stadium, which Krause agreed to build as a condition of being awarded a franchise for a USL Championship league pro soccer team."


I thought the dude was wealthy? Looks like he's been approved for over $30M of taxpayer dollars to fund his hobby and the related stadium investment he will own for his own benefit. But he apparently needs tens of millions more?
Dude's been walking around with is hand out since pre 2005 when I was in Waukee.
 
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CycloneDaddy

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From the DSM Business Record:

"Krause seeking more public funding for Des Moines Soccer Stadium
Des Moines Register: Trying to fill a funding gap for the downtown soccer stadium he has long envisioned, Krause Group CEO Kyle Krause has met with city and county officials over the last two weeks to lobby for more public funding. Krause, whose family launched the Kum & Go convenience store chain, told local officials that his company needs tens of millions of dollars more to finish the project. The request comes after the Polk County Board of Supervisors approved up to $7 million for the project in April 2021 and the state agreed to provide $23.5 million. In addition, the city has agreed to provide an incentive package worth an undetermined amount. Polk County Administrator John Norris and Des Moines City Council members Carl Voss and Josh Mandelbaum confirmed that Krause has asked Des Moines leaders to increase the incentives. The City Council would need to approve any final agreement for the planned 6,300-seat stadium, which Krause agreed to build as a condition of being awarded a franchise for a USL Championship league pro soccer team."


I thought the dude was wealthy? Looks like he's been approved for over $30M of taxpayer dollars to fund his hobby and the related stadium investment he will own for his own benefit. But he apparently needs tens of millions more?
Maybe he should sell either his house here, Boji house or his European house.
 
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Mr.G.Spot

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From the DSM Business Record:

"Krause seeking more public funding for Des Moines Soccer Stadium
Des Moines Register: Trying to fill a funding gap for the downtown soccer stadium he has long envisioned, Krause Group CEO Kyle Krause has met with city and county officials over the last two weeks to lobby for more public funding. Krause, whose family launched the Kum & Go convenience store chain, told local officials that his company needs tens of millions of dollars more to finish the project. The request comes after the Polk County Board of Supervisors approved up to $7 million for the project in April 2021 and the state agreed to provide $23.5 million. In addition, the city has agreed to provide an incentive package worth an undetermined amount. Polk County Administrator John Norris and Des Moines City Council members Carl Voss and Josh Mandelbaum confirmed that Krause has asked Des Moines leaders to increase the incentives. The City Council would need to approve any final agreement for the planned 6,300-seat stadium, which Krause agreed to build as a condition of being awarded a franchise for a USL Championship league pro soccer team."


I thought the dude was wealthy? Looks like he's been approved for over $30M of taxpayer dollars to fund his hobby and the related stadium investment he will own for his own benefit. But he apparently needs tens of millions more?
This happens everywhere in any city that has pro teams. Stan Kronke, son-in-law of Sam Walton and his wife makes $350 million/yr. in dividends, received money to help him build the Ram's stadium.
 
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Jer

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I've long thought that 1) sports stadiums, arenas, etc should be privately funded and not subsidized by taxpayers, 2) cities and states should rarely be giving tax breaks to businesses that come in or expand - sometimes it's absolutely ridiculous.
 

Cyclone06

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This happens everywhere in any city that has pro teams. Stan Kronke, son-in-law of Sam Walton and his wife makes $350 million/yr. in dividends, received money to help him build the Ram's stadium.
I agree it happens everywhere, and it is disgusting. Holding cities and states hostage threatening to move pro teams to suckle even more tax payer teet... I am sick of seeing it. And I sure as hell do not want to see it in "my backyard."

If that means no, very low level pro soccer in DSM, so be it.
 

Jer

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I agree it happens everywhere, and it is disgusting. Holding cities and states hostage threatening to move pro teams to suckle even more tax payer teet... I am sick of seeing it. And I sure as hell do not want to see it in "my backyard."

If that means no, very low level pro soccer in DSM, so be it.
I still can't fathom how successful they think pro soccer is going to be in DSM. We're a big sports state but I just don't see the following given how cheap those same fans are. Maybe it's there or a play for the future, but I'd be very surprised if it succeeded. I'd see it having about the same success as the Newton race track.
 

Turn2

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I've long thought that 1) sports stadiums, arenas, etc should be privately funded and not subsidized by taxpayers, 2) cities and states should rarely be giving tax breaks to businesses that come in or expand - sometimes it's absolutely ridiculous.
You are absolutely right and this sums of some of the reasons why.

 

KennyPratt42

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If you live in Des Moines I encourage you to contact your council member. Keep it brief, identify yourself and that you are one of their constituents and that you do not want any city funding going to the building of a soccer stadium or at the very least not an increase in funding and incentives.
 

Urbandale2013

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Here is the thing and it separates this development from a normal sports stadium. The city and state should be doing everything they can to make this happen. This site is a toxic waste dump and this project rids our community of this.

I also think there are plenty who really underestimate how popular this could be. I’ve been to one pro soccer game and never played. I’m far from the stereotypical soccer fan. I would likely be a season ticket holder day 1. I expect this to be more successful than any of the existing teams and Des Moines is one of the most successful minor league sports towns.
 

Jer

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Here is the thing and it separates this development from a normal sports stadium. The city and state should be doing everything they can to make this happen. This site is a toxic waste dump and this project rids our community of this.

I also think there are plenty who really underestimate how popular this could be. I’ve been to one pro soccer game and never played. I’m far from the stereotypical soccer fan. I would likely be a season ticket holder day 1. I expect this to be more successful than any of the existing teams and Des Moines is one of the most successful minor league sports towns.
I genuinely don't have any concept or context for soccer popularity and viability so genuine questions...

What are the typical season ticket prices for the level of team they'd bring to Des Moines?

Would this be a "lesser" league to whatever the big one is (MLS?)?
 

Nor'MidWester

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Obviously Krause should be paying for it. But also this seems like a once in a lifetime opportunity for a rich local guy to bring a locally owned professional team to Des Moines and the state of Iowa. Which we haven't had since?? I don't know when. Plus like said before the dico site would be cleaned up and that eyesore would be gone which is a big win.

Doesn't the state have like 2 billion in surplus that we keep bragging about? Throw some money on this while we're at it.

I just feel like an opportunity like this won't come again for a long long time. Get in on the rise of soccer while it's hot otherwise it'll be that much more expensive to bring a team of this level to Des Moines.

Imagine the city of Green Bay trying to bring an NFL team today. Not happening. They only exist because they've had a team since forever, and other special circumstances but mainly because the team was there since the beginning.
 

Bader

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Obviously Krause should be paying for it. But also this seems like a once in a lifetime opportunity for a rich local guy to bring a locally owned professional team to Des Moines and the state of Iowa. Which we haven't had since?? I don't know when. Plus like said before the dico site would be cleaned up and that eyesore would be gone which is a big win.

Doesn't the state have like 2 billion in surplus that we keep bragging about? Throw some money on this while we're at it.

I just feel like an opportunity like this won't come again for a long long time. Get in on the rise of soccer while it's hot otherwise it'll be that much more expensive to bring a team of this level to Des Moines.

Imagine the city of Green Bay trying to bring an NFL team today. Not happening. They only exist because they've had a team since forever, and other special circumstances but mainly because the team was there since the beginning.
The state is already giving him 23.5 million along with Polk County adding 7 million. $30 million feels like plenty for the public to shoulder to build a 6300 seat stadium for a low level pro soccer team
 

Nor'MidWester

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The state is already giving him 23.5 million along with Polk County adding 7 million. $30 million feels like plenty for the public to shoulder to build a 6300 seat stadium for a low level pro soccer team
Right, yeah I don't want to give him any more money especially when they are in the brink of selling Kum and go for 2 billion... I think they have enough money at that point for a 6k seat stadium.

It would be in the second tier league in the United States.

Basically we'd be one league removed from a Messi level of player (sarcasm)
 

JP4CY

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From a quick search, the Drake/DMPS new soccer stadium was estimated at $19.5 mil for 4,000 seats total.

The new 6,500 K&G stadium has already been awarded $30 million and needs tens of millions more from taxpayers alone?

I'm not dismissing soccer, just the price tag.
 

Nor'MidWester

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From a quick search, the Drake/DMPS new soccer stadium was estimated at $19.5 mil for 4,000 seats total.

The new 6,500 K&G stadium has already been awarded $30 million and needs tens of millions more from taxpayers alone?

I'm not dismissing soccer, just the price tag.
I'm sure the Krause has many extra amenities and fixtures that a Drake/DM Schools stadium has. Maybe things that are required by the USL. Still a hefty price tag.
 
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Mr.G.Spot

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Receiving $180 million when you have inherited billions is outrageous. He didn't get it up front, but is skimming the sales tax receipts which would have gone to Cali state budget.