Proposition 2 asks voters to approve $60 million to help build a new major league soccer stadium downtown near Union Station through a use tax increase.
A member of the ownership group that sought an MLS franchise for St. Louis calls the defeat of public financing "likely the final stage of our journey".
Both propositions needed to pass to give the soccer stadium the green light.
Pink Star diamond sells for world record $71m
We are very, very confident all three bidders had the financial capability and, of course, the buyer has the financial capability. Chow Tai Fook is Asia's most prominent jeweler, operating more than 2,000 stores throughout China.
The good news, sort of, is that the vote was fairly close, with "no" securing 53 percent and "yes" getting 47. The most it won in any ward was 59 percent, in Ward 16, which largely consists of the St. Louis Hills neighborhood in South City.
Opponents say it would be wrong to spend public funds on a stadium and that the money would be better spent on St. Louis' underfunded schools and infrastructure. That move occurred despite St. Louis offering to finance the majority of a stadium that neared $1 billion in proposed costs, dampening the city's willingness to fund a stadium.
FS Investors told the Union-Tribune that the timing of the November 7 measure won't jeopardize its expansion bid because MLS won't make a decision on teams 25 and 26 until after the results of the measure are known. County Executive Steve Stenger said the city has not come to county leaders for help, but said he'd listen to any proposals. The decision ensures that MLS will remain one of just two of the five major American sports leagues, along with the National Basketball Association, to have no presence in Missouri, as the league left the Show-Me State in 2007 when Sporting Kansas City opted to leave Kansas City, Mo., and pursue a stadium in Kansas City, Kan. Would MLS have worked in St. Louis?