Who art thou owners? The Texas Renaissance Festival has to pay $22 million in damages in dispute over purchase
King George's reign has come to an end. In Texas. At a Renaissance Festival.
A Grimes County judge ruled this week that the Texas Renaissance Festival — the largest in the country in terms of attendance numbers — must be sold after its owner, George Coulam — known to his workers and visitors as King George — backed out of a sale.
In addition to selling the festival, Coulam will have to pay $22 million in damages to plaintiffs RW Lands, Inc., Texas Stargate, Inc., and Royal Campground, Inc, Houston Public Media reports. He reportedly originally agreed to sell the festival property, an adjacent property, and the festival's assets to the group for $60 million in 2013.
The parties agreed to an August 8, 2023 closing date, but learned the day before that Coulam was apparently preparing to back out of the deal, according to the lawsuit. Coulam reportedly ignored the closing date and the sale.
'Indeed, the Aug. 8, 2023 closing date came and went without the defendants complying with their closing obligations,' the lawsuit says.
The plaintiffs sued him for breach of contract, arguing that an initial payment they had made required Coulam to uphold his end of the agreement.
Coulam was the subject of a 2024 Max docuseries titled "Ren Faire" that followed the 86-year-old Coulam's search for love on dating apps while also toying with underlings vying to take over the festival at his retirement.
Even though King George will abdicate his throne, his kingdom will live on — just under new ownership. According to the Texas Renaissance Festival's representatives, the event will continue for its 2025 season "and beyond."
"The commitment will remain unchanged: to deliver a safe, vibrant, and memorable experience for the hundreds of thousands of guests who visit each year. Festival operations are moving forward as planned for the 2025 season and beyond," a post on its social media said.
The festival just celebrated its 50th season at the end of 2024, drawing more than half a million visitors during its Golden Birthday.
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