A Decade-Long Pursuit of a Downtown Soccer Stadium
In September 2019, Kyle Krause, CEO of the Krause Group, unveiled plans for a downtown soccer stadium in Des Moines, envisioning a construction start in 2020 and a completion by 2022.
The timeline quickly unraveled. By May 2020 the target date was pushed to 2023, and a year later the schedule was extended again to 2025, as the project navigated regulatory hurdles and the selection of a former DICO factory site, an EPA‑listed Superfund location, for the development.
Krause pledged a $550 million investment that would encompass not only the stadium but also surrounding office space, restaurants and entertainment venues. Financing was to be bolstered by a $23.5 million allocation from the Iowa Economic Development Authority and successive contributions from Polk County, which together with city bonds would bring public funding to roughly $52.5 million of an estimated $95 million total cost.
Recent Turn of Events
The financial picture grew more complex when the Krause Group sold its flagship convenience‑store chain, Kum & Go, to Utah‑based Maverik in April 2023, a transaction whose value was never disclosed. More recently, the Des Moines City Council approved a $7 million allocation in December 2025 and, in June 2026, voted to lease the stadium site to the Iowa Soccer Development Foundation for a 50‑year term, cementing the city’s resolve despite the unresolved funding gaps.