Creating a Vision of Success

Chris Long wears at least two leadership hats.

Long is founder of Palmer Square Capital Management and co-owner of the Kansas City Current women’s professional soccer team, a member of the National Women’s Soccer League. Palmer Square manages about $30 billion in assets for institutional and high net worth clients worldwide. The firm is based in Mission Woods, Kan., and has a research office in London.

Long addressed ACG’s breakfast meeting Oct. 27 with moderator Dani Welniak, Kansas City Current’s vice president of communications. The theme was “Creating a Vision of Success.”

Welniak asked Long how he balanced his leadership roles in the two organizations. He said the key was “knowing what you’re good at” and where your competitive advantages lay.

“What we have done a really nice job of ... is spotting talent and empowering them to do a great job in their competitive niche,” Long said. “Many people across Palmer and the Current carry the weight of what we’ve done. They have autonomy and authority to do what they do to add value every day.”

He credited his partnership with his wife, Angie Long, Palmer Square’s chief investment officer and portfolio manager, for their success. Without her, “it wouldn’t have worked.”

“We communicate and trust each other implicitly,” he said. “We tag team all the time, constantly. Although yesterday we forgot to pick up our son. ... But barring the occasional mistake like that, we’ve been able to do it together, and we have a great team.”

Welniak said the Current had notable news in the prior week: The team’s stadium—the world’s first that was designed specifically for a professional women’s soccer team—is now officially called CPKC Stadium through a 10-year naming rights agreement with CPKC. The company was formed through the April 14 combination of the Canadian Pacific and Kansas City Southern railroad companies, creating the first North American rail network connecting Canada, the United States and Mexico.

“We really wanted to find a partner that had the same values, the same vision that we did, and that this town would be proud to see their name on that stadium,” Long said. “To be in that moment and know that CPKC was the perfect partner.”

Welniak asked Long about his decision to get involved in women’s soccer. Long said he and his wife had been college athletes, “and we’ve always been absolutely bonkers about anything related to sports.” They attended the 2019 World Cup.

“It struck a chord with Angie and me at that moment,” he said.

Their daughter, now 17, is passionate about sports and was invited to play on a team that traveled around France. Chris and Angie returned home “and started the process of trying to get a team here.” They took a significant risk but had strong perspective from their investment backgrounds about what would be required, what it would mean in the community and how it would elevate female role models.

CPKC Stadium also elevates Kansas City. Long called the stadium “authentic to Kansas City.” It will offer the “best of the Kansas City food scene.” So far, Joe’s Kansas City BBC has agreed to open a restaurant in the stadium. Announcements for 10 more restaurants will be released soon. The Current also controls all the land surrounding the stadium. Development is in design and will occur in phases with the stadium serving as the centerpiece.

During a question-and-answer period after the main presentation, an audience member asked about the stadium’s impact outside Kansas City. Long said two or three inquiries a week arrive internationally from different sports asking how they accomplished it and how they arranged its financing.

Another audience member who said he had worked at Kansas City Southern said the railroad industry was male dominated. He asked Long how he landed CPKC as the stadium’s name sponsor. Long said “it all starts at the top there” and Canadian Pacific had a history of supporting women’s sports.

CPKC Stadium will be one of four venues for the World Cup when it comes to Kansas City in 2026. The stadium’s training facility will be a base camp for each country while they remain in the competition. The stadium will also be used for a variety of youth sports.

An audience member asked Long how he handled the risk involved in creating the Current and the stadium. He said that he had “learned from the ground up” when he and his group took a team in December 2020. The risk-return ration is now “totally skewed on the return side.” The Current is number one or two in revenue in the league. Its valuation has increased eight to 10 times.

“We believe in the community and getting the right people in place,” he said.