Disney Outmaneuvers DeSantis' Board with Power Play
TL;DR
Disney used a legal clause that name checks King Charles III to apparently thwart Florida Gov. Ron DeSantis' attempt to strip the company of its self-governance power in the state. On Feb. 8, the day before the Florida House voted to put DeSantis in charge, the previous Disney-allied board signed a long-lasting development agreement that drastically limits the control that can be exercised over the company and its district. The agreement includes a royal clause that dates back to 1692 in Britain and would extend its term limit for decades.
Topics:nationbusiness#business#development-agreement#disney#florida#reedy-creek-improvement-district#ron-desantis
- Disney checkmates Ron DeSantis with a King Charles clause CNBC
- DeSantis' board says Disney stripped them of power CBS Miami
- Disney quietly took power from DeSantis' new board before state takeover CNN
- DeSantis' board overseeing Disney district may be powerless Business Insider
- DeSantis' Reedy Creek board says Disney stripped its power Orlando Sentinel
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