It may be the best deal a director has ever agreed to in Hollywood. In 1987, Universal signed up Steven Spielberg to get him to help design rides and areas of their theme parks. In return the director gets 5% of the take from the gate at Universal’s two parks in Florida and one in Japan (but not the one one in Hollywood). As a result Spielberg is believed to pocket up to $50 million a year, even though he doesn’t have to do an awful lot in return.
However, the deal was due to come to an end next year, and many were wondering whether with Dreamworks having signed a distribution deal with Disney, if this would mean Spielberg would leave Universal and start helping to create rides for the House Of Mouse’s theme parks. It’d be bad news for Universal, as not only would they lose their creative consultant to a competitor, but they’d be forced to pay Spielberg a lump sum to cover his stakes in their parks, which would have resulted in them handing him up to $250 million.
They won’t have to do that though, as Variety reports that they’ve now signed a new deal with Spielberg, where they’ve raised his stake to 5.25%, and won’t have to pay out the lump sum until at least 2017 at the earliest. They’ve also apparently put in an exclusivity clause, ensuring that despite Spielberg working closely with Disney through Dreamworks, he can’t help the House of Mouse with their theme parks.
Why can’t someone give me a deal where I get paid $50 million a year for something I only have to do part time?