Disney's CEO Bob Iger says settlement agreement with Oversight District is a 'win-win' for Disney

Apr 03, 2024 in "Reedy Creek Improvement District"

Posted: Wednesday April 3, 2024 1:54pm ET by WDWMAGIC Staff

Disney CEO Bob Iger has made his first public comments on the recently announced settlement agreement between Walt Disney World and the Central Florida Tourism Oversight District.

Announced in late March, the Walt Disney Company and the Central Florida Tourism Oversight District proposed a settlement agreement that will potentially see both sides drop their respective lawsuits. Today, Iger described the agreement as a "win-win" for Disney.

The critical points of the agreement from Disney's perspective are that the district commits to reviewing and potentially amending the 2020 Comprehensive Plan, with consultations involving Disney, and that the subsequent negotiations for the new development agreement are linked to Disney pursuing or halting its federal lawsuit against CFTOD and Florida Governor Ron DeSantis.

Responding to a question about investing in the parks, Iger said, "The agreement we reached with the Central Florida tourism oversight district last week will actually enable us to pursue the kinds of significant investment in our Florida parks that you're talking about. We achieved a win-win result with that deal. In terms of our ability to pursue future development opportunities, but also in terms of the 1000s of direct and indirect jobs, and economic opportunity in the state that will come with our investment in new projects. So as we've discussed regarding our $60 billion capital expenditure plans, is much more coming to our parks around the world, including in Florida."

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JoeCamel3 hours ago

On and off for years, that corner is a stage for news bites

mkt3 hours ago

Huh. I never saw them before... all of this happened.

JoeCamel4 hours ago

Those guys would show up before all this started and they will be back, was about every 9 months to get on the news.

Stripes4 hours ago

What? The new development agreement is based on the existing 2020 Comprehensive plan. There’s just a blurb in there that the district and Disney will amend the agreement in order to give Disney even more development rights once the new comprehensive plan is effective.

mkt4 hours ago

They are not. And the politization of day to day is affecting morale across the other civil servants. I personally know of two ex-RCID/current-CFTOD employees that are taking an early retirement and starting the same job with a different private or public sector enterprise in the area.

mkt4 hours ago

A certain group of Swastika-wearing people who I will not name lest I be accused of making political posts aren't protesting at the property line anymore. And otherwise things are basically business as usual. Disney may not get the board members they want, but they're still getting the decisions they want.

eddie1045 hours ago

That’s something we agree on.

flynnibus5 hours ago

Of course they did… that’s PR and professionalism. They had their own market exposure they were trying to manage. You can’t be a public company and scream like a pirate ‘to the death!’ . There was a motion they could not stop - they put on a smile and said we are happy to work with our new neighbors… all while planning their demise behind closed doors. Yet… they contested things counter to that postulate. They blindsided desantis with the developer agreement… that is not what you do if you are expecting the other team to collab with you on a mutual split. Because that is when their case was expanded into the contract laws and gave them more teeth. Yes - I’ve already said these same things… disney isn’t really doing anything for the dev agreement and it’s basically toothless. The real fight and concessions are outside the developer agreement…. And behind closed doors. They can do plenty… im not going to rehash what has already been covered. The Florida GOP are once again on Disney’s payroll. There is no risk so long as that continues. I don’t think these people are that stable to be honest…

lazyboy97o7 hours ago

And the new development is on the very shaky ground the old one was accused of being on. It’s supposed to be based on what exists and is instead based on the future. There are no guardrails. This is the point. Disney caved in Florida in the hopes that they will run interference if Trump becomes president and gives federal power to someone like Stephen Miller. Trump’s “defense” of Disney was opportunistic to attack DeSantis, he didn’t really care. Disney is trying to protect themselves by being compliant and paying off others in his orbit.

Stripes7 hours ago

Disney had a very strong appeal for the First Amendment case. After the new district took over at the beginning of this mess, Vahle put out a statement that Disney sought to work with the new board on very friendly terms. Disney’s goal was never to continue this fight. It was to let DeSantis have his win by dismantling RCID while making sure they could still build whatever they wanted. Disney sued as soon as DeSantis and company attacked the development agreement. Disney promised to do things they were already going to do. It also doesn’t matter because even if Disney doesn’t do what they promised the district can’t prove otherwise until the development agreement expires anyway. The board can’t do much of anything to antagonize Disney anymore. Disney was content to have the new board takeover with guardrails in place at the beginning of this mess. The Florida GOP are once again on Disney’s payroll. There is no risk so long as that continues.

MisterPenguin7 hours ago

Not true. Amongst us pixie dusting shills, we also care about objective grammar. It's "toeing the line."

Cliff8 hours ago

Wrong....this forum is a fan site for "biased" reasoning. "You" might have a true objective goal...but most of this group does not. Yes...towing the line and waiving the tribal Disney flag IS the goal of hundreds of thousands of posts on this forum. Have you never heard of the "Pixie Duster" tribe here? They are a powerful foce and objectivity is not in their plan....towing the Disney line is the ONLY thing they are concerned with. Disney appologetics is everything to them. Yeah...true objectivity is a minority here.

flynnibus8 hours ago

Yes I know - which is why I said Disney would be the one to extend the olive branch... the act to initiate and signal a wish to reconcile... Disney knows full well what the union did and the sides they chose... but Disney also knows the union isn't going anywhere... and they know the union has egg on it's face. When your opposition is knocked down and deflated... being the one to help them back up is often a strong way to reconcile and move beyond the past transgressions.

flynnibus8 hours ago

Ehh.. the lawsuits were already done. And of course Disney only sued after the state attacked the developer agreement... they can't sue for a contract being violated before it was :) Disney made a pre-emptive strike at the district level with the developer agreement... they fired the first shots.. just not in court. No, Disney still has to deal with the district, and whomever the state decides to sit there.. and all the 'how can they make life worse for disney' points are all still the same. Nothing that happened since RCID was torn down touched anything in the comprehensive plan that was in place and the only portion of the new developer agreement that really matters is it locks in new land management minimums for the property as a whole. Disney basically promised 8 billion dollars and capitulating in return to ensure they get to define the new TBD comprehensive plan like the old days... with their interests at the forefront. Everything else is still as it was with the new District in power... the difference now is right now you have District management that is cooperating with Disney. It's just an example of how far things can swing based on the District's board... they can be completely antagonistic, or they can be completely submissive... all within the same structure. Disney gets to lock up the master plan for the property - but everything else is still at the whim of the Governor because he can swap people to do whatever he pleases. And her job is only as secure as the Governor in office's latest itch. The anti-Disney stance of the last year plus was not because a rogue guy was hired as the district administrator... let's not forget that. Those people were just yes-men who were replaced just as fast as they were put in place when the agenda changed. That risk hasn't changed.