Sunday, June 22, 2003
Kansas City, Mo. The Ewing Marion Kauffman Foundation has pledged $26 million to support a proposed Metropolitan Kansas City Performing Arts Center.
Money for the commitment will be drawn from a portion of the funds created from the sale of the Kansas City Royals by its late owner, Ewing Kauffman.
Kauffman, who became owner of the Royals expansion franchise in 1969, specified that the team be sold after his death and that the proceeds benefit the Kansas City community. The team was sold for $96 million in May 2000, and proceeds were placed in various donor-advised funds maintained by the Greater Kansas City Community Foundation and Affiliated Trusts.
The cost of the arts center is estimated at $304 million.