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Thu Jul 30, 2020, 04:00 AM

Chiefs QB Mahomes II becomes part-owner of MLB's Kansas City Royals

The Kansas City Royals have a new part-owner, and itís a face thatís quite familiar to the city and Texas Tech fans.

Chiefs quarterback Patrick Mahomes II was announced Tuesday as a member of the teamís ownership group, the Royals said in a news release.

ďIím honored to become a part owner of the Kansas City Royals,Ē the 24-year-old Mahomes said Tuesday in the release. ďI love this city and the people of this great town. This opportunity allows me to deepen my roots in this community, which is something Iím excited to do.Ē

Mahomes, the reigning Super Bowl MVP, signed a 10-year contract extension at the beginning of July worth up to $503 million with $477 million in guarantee mechanisms that give the two-time All-Pro outs if not exercised.

Read more: https://www.lubbockonline.com/sports/20200728/chiefs-qb-mahomes-ii-becomes-part-owner-of-mlbs-kansas-city-royals

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Reply Chiefs QB Mahomes II becomes part-owner of MLB's Kansas City Royals (Original post)
TexasTowelie Jul 2020 OP
Delarage Jul 2020 #1
JonLP24 Jul 2020 #2

Response to TexasTowelie (Original post)

Thu Jul 30, 2020, 11:40 AM

1. Nice

I like Mahomes and he'll have a connection to Delaware with the Wilmington Blue Rocks being part of the Royals farm system

HOWEVER....$500 million over 10 years? I wish some of the money that the owners and players make could be used to even slightly lower the costs for fans. I love to go see the Steelers play, but it's outrageously expensive..from parking, to tickets, to food.

Part of the reason I liked Philly's now-defunct AFL team the Soul

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Response to Delarage (Reply #1)

Thu Jul 30, 2020, 01:39 PM

2. I'm rusty on my economics

But I know fixed costs like Mahommes contract has little to do with the price of tickets. Supply and demand determine the cost of tickets, Phoenix Coyote tickets are cheap because there isn't much of a demand to see them play. A common misconception is a team will raise ticket prices to pay for a free agent when actually there is more a demand to see the player. If this was a normal season I imagine Tampa Bay would be charging more for tickets because they acquired Tom Brady.

As far as food they raise prices for the same reason movie theaters do. I believe they call it an all or nothing approach.

NFL also receive sweetheart deals from taxpayers for stadium subsidies. They do it because they can.

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