The owner of the Kansas City Royals, John Sherman, announced this week that the team will leave Kauffman Stadium and are looking for a location for a stadium and entertainment district.
KSHB-TV reported that Sherman released a letter Tuesday announcing the team is planning to leave Kauffman Stadium and start exploration for a final location for a $2 billion stadium and entertainment district.
"It's becoming challenging to maintain the K," Sherman wrote. "A new home would be a far better investment, both for the local taxpayer dollars already supporting our facility and the Kansas City community."
The Royals have been at Kauffman Stadium since 1973. The stadium cost $70 million at the time. The team celebrated its 50th season at Kauffman Stadium earlier this year.
"The K" is the sixth-oldest stadium in the major leagues. Only RingCentral Coliseum (Oakland), Fenway Park, Wrigley Field, Dodger Stadium and Angel Stadium have been in use longer, KSHB-TV reported.
The most recent renovations to the stadium took place from the end of 2007 season to Opening Day in 2009, costing $250 million. The renovations included the installation of the stadium iconic HD scoreboard shaped as the team's logo, which alone cost $8.3 million.
Sherman bought the team in 2019 for $1 billion.
The team's lease is due to expire in 2031. However the team has previously said they would like the stadium to open before the end of the lease.
According to a statement by the Royals, they will entertain offers for new site, which could include several sites near and around downtown Kansas City, Missouri.
Sherman also said back in 2021 he anticipated the future home of the Royals to be a public-private partnership.