Months after Disney and Gov. Ron DeSantis’ appointees reached an agreement to end their long legal dispute, they are now on track to finalize a deal that could lead to Disney investing up to $17 billion in its Florida resort. This agreement also paves the way for a potential fifth major theme park at Walt Disney World.
The five supervisors appointed by DeSantis, who oversee the Disney World area, voted to preliminarily approve a new development agreement on Wednesday. This agreement was negotiated after both sides settled their court cases in March.
A final vote for approval is scheduled for next week.
“We are moving towards a new beginning, and I’m optimistic about the direction we’re heading,” said Charbel Barakat, vice chair of the board overseeing Disney World. “I only wish we could have reached this point sooner.”
Ron DeSantis (Via Jeremy Kent/Getty Images)
Woody Rodriguez, Disney Parks’ director of external affairs, explained to board members that the agreement would enable Disney to make significant investments in Disney World.
The agreement spans 15 years and involves the Central Florida Tourism and Oversight District, which provides essential services like firefighting and planning. Previously controlled by Disney supporters for most of its history, the district came under DeSantis’ appointees last year.
As per the terms of the deal, over the next decade or two, Disney could construct a fifth major theme park at Disney World and possibly two additional minor parks, such as water parks. The company could also expand its hotel rooms from nearly 40,000 to over 53,000 and increase retail and dining space by more than 20%.
