Royals getting a new ballpark in Missouri - private investment to pay for it

The Royals are staying in Kansas City, Missouri.

Wednesday morning, a joint venture with Hallmark and the Kansas City Royals was made public.

In the announcement, plans were announced for not only a new ballpark, but updated headquarters for both businesses.  

The development will be located in downtown Kansas City in the Crown Center area and would create more than 20,000 jobs during construction.   

It is expected to be funded by a private investment of two Billion dollars or more, the largest in private investment in the history of Kansas City.