🔔 Disney's Reedy Creek Board adopts "King Charles poison pill clause" to neuter DeSantis board 🔔
It has come to the attention of the world that Walt Disney invoked a rare legal clause that name checks King Charles III, where the former board signed a long lasting development agreement just one day before Florida house voted to put DeSantis in charge of Reedy Creek.
This 30-year development agreement puts Disney in a position where they do not need any board approval to build high density projects and buildings of any height, and also bands the board from using Disney's name or characters.
Disney used a rare claws that states "this declaration shall continue an effect until 21 years after the death of the last survivor of the descendants of King Charles III, King of England, living as of the date of this declaration". This is an extremely bizarre twist, and is only occasionally used in Britain with Trusts against perpetuities.
In effect, this neuters the new board and only gives them practical oversight on roads and basic maintenance infrastructure. It seems that Trump may have been aware of this legal clause, as it was only discovered by the new board on February 27. This is obviously a great embarrassment to DeSantis, who's seeking a possible presidential bid in 2024, and now he has to eat face on this change, which did nothing but solidify Disney as its own sovereign nation, more or less.
Maybe Disney will dedicate a spot at Magic Kingdom to King Charles III 😂. Maybe Florida will checkmate by requiring passports for anyone to enter Reedy Creek! 🛂