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Restrictive Covenant

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The Power Struggle between DeSantis and Disney's Board Explained.
business2 years ago

The Power Struggle between DeSantis and Disney's Board Explained.

Disney has quietly signed an agreement with the former Reedy Creek Development board, stripping the board of power and handing it back to Disney, blocking Florida Governor Ron DeSantis's move to strip the company of its control over a special taxing district. The agreement is binding and will continue until 21 years after the death of the last survivor of the descendants of King Charles III. DeSantis's office thinks it might be able to strike down the covenant based on legality alone, but the board could be left to pursue a legal challenge, which could still take months to sort out in the courts.