-

State of Texas pays $2.7 million of taxpayer money to get WrestleMania 32

The Texas Tribune is running an article about Texas governor Greg Abbott agreeing to spend up to $2.7 million in taxpayer funds to bring WrestleMania to the state next year.

The article notes that during his campaign last year, the governor was against such ideas using taxpayer money however last week his office signed off on the $2.7 million payment from the Events Trust Fund. The Events Trust Fund is designed to defray the costs of some large events by paying state taxes collected during the events, such as those levied on hotel reservations and car rentals, back to event organizers.

“It’s a massive event,” CFO for Stadium Events Organizing Committee Marty MacInnis said. “They’ve got fan festivals. They’ve got golf tournaments. They’ve got rallies. It’s one of those things where people from all over the world will come to this.”

State subsidy helped the organizing committee plan out its bid and determine how much it could ultimately agree to pay WWE. The total funding WWE is receiving for the event is still being worked out, McInnis said.

WrestleMania 32 received the second biggest incentive since governor Abbott’s office took over the trust fund. The Formula One race in October received nearly $20 million.

Colin Vassallo
Colin Vassallohttps://www.wrestling-online.com
Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

Stories you might also likeRELATED
Recommended to you

LATEST NEWS

CM Punk to join Ariel Helwani on Monday for “no holds barred” live interview

CM Punk will be on The MMA Hour with Ariel Helwani next Monday live in studio for his first...

NXT rating for 03/26/2024

NXT this week drew 601,000 viewers, up 32,000 viewers from the prior week. The show had a 0.17 rating...

WWE Speed to debut on X on April 3

The WWE Speed weekly show which will air exclusively on X will start next week on Tuesday, April 3. Speed...

Discover more from Wrestling-Online.com

Subscribe now to keep reading and get access to the full archive.

Continue reading