-

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.


Discover more from Wrestling-Online.com

Subscribe to get the latest posts sent to your email.

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

DDP thanks Triple H, TKO leadership, and WWE for “changing the atmosphere”

In a post on social media, Diamond Dallas Page thanked Triple H and the new TKO leadership for making...

Kevin Owens turns on Cody Rhodes after Bad Blood

Kevin Owens has finally flipped on Cody Rhodes, attacking him in the parking lot of the State Farm Arena...

Raquel Rodriguez attacks Rhea Ripley, aligns with Liv Morgan on her return

Following a long bout with mast cell activation syndrome, Raquel Rodriguez returned at Bad Blood last night and aligned...

Discover more from Wrestling-Online.com

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

Continue reading