Months following the resolution of their legal disputes, Disney and Florida Governor Ron DeSantis are on the verge of striking a monumental agreement. The proposed $17 billion deal signals the potential addition of a fifth major theme park to the iconic Walt Disney World complex. This significant development comes after both parties, represented by the five DeSantis-appointed supervisors overseeing the Disney World district, gave initial approval to a new development agreement.
Under the terms of the agreement, Disney could invest up to $17 billion into its Florida resort over the next 15 years, with plans for expansive growth including the construction of a new major theme park and two minor parks. The company aims to increase its hotel accommodations to over 53,000 rooms and expand retail and restaurant space by more than 20%. In exchange, Disney has agreed to donate land for infrastructure projects, allocate construction contracts to Florida-based companies, and invest in affordable housing initiatives in central Florida.
The resolution of this agreement follows a prolonged legal battle sparked by Governor DeSantis’ takeover of the district from Disney supporters. The dispute, rooted in Disney’s opposition to a controversial Florida law dubbed “Don’t Say Gay,” saw Disney suing DeSantis and his appointees for alleged violations of free speech rights. However, with the settlement reached in March, which temporarily suspended Disney’s federal lawsuit appeal, both parties have now shifted focus towards a new chapter of collaboration and growth for one of the world’s most renowned entertainment destinations.
