Disney World And Florida Closing In On A New Deal For Fifth Theme Park

Walt Disney World Resort in Florida is not exactly hurting for attractions between its four theme parks spread across 39 square miles. But with Disney's top competitor, Universal Studios Orlando, set to open an expansion with Epic Universe next year, Disney World and the state of Florida have a tentative agreement that would add a fifth theme park to the resort.

Via Deadline, the agreement between Disney and Florida calls for $17 billion in investment from Disney over "the next 10 to 20 years" in exchange for a development deal that provides "assurances and guardrails" from the state. The agreement is part of Disney Parks' plans to invest $60 billion in its theme park resorts around the world.

According to the report, one more vote will take place next week before the deal with Flordia is finalized. The agreement also stipulates that Disney has to put down at least $8 billion dollars within the first 10 years of the agreement. Those funds can be applied to "capital investment in existing infrastructure, new construction, and technology investment."

The deal marks Disney's renewed commitment to Florida following the company's legal battles with Governor Ron DeSantis. Assuming a new agreement will be in place following next week's vote, the question now is what will be in the fifth theme park at Disney World? The new park itself is likely several years away at the earliest.

Disney also recently secured a west-coast expansion with Anaheim, California to expand Disneyland resort over the next 10 years. For that expansion, Disney has already shown investors a potential Avatar-themed land. A timetable for that park has not been announced.