National Finals Rodeo Finds 12 Year Home in Las Vegas Worth $264 Million
The National Finals Rodeo has a home in Las Vegas for the next 12 years and the contract is a financial boon with more than a quarter of a billion dollars committed to the contestants and stock contractors through 2035.
Las Vegas Events and the Professional Rodeo Cowboys Association jointly announced today the financial details of the agreement that will keep the National Finals Rodeo in Las Vegas through 2035. Over the term of the contract, the total payment to the contestants and stock contractors will be $264,323,473.
Las Vegas' commitment to the NFR is the richest in the sport's long and distinguished history. The new agreement will begin in 2024, replacing the previous contract that was scheduled to expire in 2025.
Las Vegas Events will guarantee an additional $1.3 million in contestant purse and stock contractor compensation in 2024 and 2025, as a signing bonus to the PRCA.
For the 2024 NFR, the prize money for contestants will be $12,501,505 and stock contractors will receive $3,750,451 – making the payout amount of $16.2 million, which includes guaranteed prize money of $1.2 million for NFR qualifiers.
In 2025, the prize money for both will increase to more than $17.5 million – $13,501,505 to contestants and $4,050,451 to stock contractors.
In each subsequent year through 2035, the contestant purse and compensation to stock contractors will increase by $1 million ($769,231 and $230,769, respectively). By the end of the contract in 2035, the total payout to the contestants and stock contractors will be more than $27.5 million. There also will be annual salary increases for contract personnel.
Additional elements of the agreement include a season-long marketing program and an official designation as an Official Sponsor of the PRCA, National Finals Steer Roping, NFR Open and presenting sponsorships of the 12 National Circuit Finals Rodeos.
"Las Vegas is the Sports and Entertainment Capital of the World and a great home for the National Finals Rodeo," PRCA CEO Tom Glause said. "This is a landmark agreement for the PRCA that benefits every PRCA member — contestants, stock contractors, committees, and contract personnel. This agreement will advance and help the sport continue to grow and provide security for the future."
Bill McBeath, chairman of the Las Vegas Events Board of Trustees, also was excited to get this deal done.
"After working with the PRCA and their representatives for nearly two years, I am pleased with our efforts to secure Las Vegas as the home to the world's richest and most prestigious rodeo through 2035," McBeath said. "For nearly 40 years, Las Vegas has built a strong partnership with the PRCA and its contestants and stock contractors. We feel that the new agreement is beneficial to all parties and clearly demonstrates the commitment that Las Vegas has to the NFR and the sport of rodeo."
The NFR, known as the richest and most prestigious rodeo in the world, has sold out 359 consecutive performances and attracts the top 15 contestants in bareback riding, steer wrestling, team roping, saddle bronc riding, tie-down roping, barrel racing and bull riding. Qualification is based on the PRCA World Standings. In 2023, the event had a total attendance of 157,580 over the nine fully-attended rounds of competition in Las Vegas.
Tim Keener, president of Las Vegas Events, is appreciative of the effort put forth to get this huge financial extension done.
"I would like to acknowledge the tremendous dedication that Bill McBeath, Michael Gaughan, Tom Glause and the PRCA exhibited over the past 20 months to secure the extension of the NFR," Keener said. "Our goal is to continue to make the NFR a December tradition in our city. We look forward to working with our partners in growing the NFR Experience for rodeo fans in Las Vegas."
In 2024, the NFR will run from Dec. 5-14 at the Thomas & Mack Center.
Information and content for this article was provided by the PRCA in a press release.
LAURA MOTLEY LAMBERT
Laura Lambert resides in Wiggins, Colo. With her husband, Ricky and two sons, Brayden and Boedy. She attended the University of Northern Colorado while studying economics. She is an accomplished rodeo athlete and barrel horse trainer. Over the years, Laura has been active in journalism in a variety of roles. While continuing to cover western sports and country music, she is currently enjoying expanding her reach into multiple sports including MLB, NFL, PGA and LPGA. You can reach her at lauralambertmedia@gmail.com