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Say Good Bye To Disney…

by Market FinancePosted onMay 5, 2023May 5, 2023

Here’s what happened now.

On Friday, Governor Ron DeSantis of Florida approved a new legislation that gives the state’s tourism board the authority to oversee Walt Disney World.

According to Fox, as a result of the new legislation approved by Governor Ron DeSantis, the board, which was initially appointed by him, will now possess legal powers to terminate contracts entered into with Walt Disney World, including those made within the last three months.

The legislation in question had already been passed by the Florida legislature before it was signed into law by Governor Ron DeSantis.

With the new powers bestowed upon it, the Central Florida Tourism Oversight District Board will now have the ability to veto an agreement between Walt Disney World and the Reedy Creek Improvement District, which granted the company substantial independence over the park’s premises.

On April 26, Walt Disney Parks and Resorts U.S., Inc. lodged a complaint with the U.S. District Court for the Northern District of Florida, claiming that Governor Ron DeSantis orchestrated a deliberate “campaign of government retaliation” against the company, which violates Disney’s constitutional right to freedom of speech.

Walt Disney Parks and Resorts U.S., Inc. initiated the lawsuit after a board established by Governor Ron DeSantis to govern the Central Florida Tourism Oversight District, where the Walt Disney World resort is located, decided to invalidate two development agreements that Disney had entered into in February.

Governor Ron DeSantis rejected Walt Disney Parks and Resorts U.S., Inc.’s lawsuit against him, characterizing it as politically motivated, and stating that it is not in the interest of promoting a pro-business environment to allow a single company to receive preferential treatment from the government.

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