Las Vegas, NV (KTNV) -- Following unanimous votes by the Las Vegas Events Board of Trustees and the Professional Rodeo Cowboys Association Board of Directors, both organizations announced they have reached an agreement to keep the Wrangler National Finals Rodeo in Las Vegas through 2024.
The new agreement will begin following the 2014 Wrangler NFR.
Per the agreement, LVE will guarantee $16.5 million annually in purse and sponsorship for the Wrangler NFR.
From 2015-2019, the contestant purse will be $10 million, while stock contractors will receive $3 million annually. The contestants will be guaranteed $10,000 each year, which will not be offset by contestant winnings.
From 2020-2024, there will be cost of living increases to each purse and guarantee.
Additional elements of the agreement include a season-long sponsorship program with the PRCA, presenting sponsorships of the RAM National Circuit Finals Rodeo and 12 RAM Circuit Final Rodeos, as well as the National Finals Steer Roping, if it is held in Las Vegas.
The Wrangler NFR, known as the richest and most prestigious rodeo in the world, has sold out 270 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.
In 2013, the event had a total attendance of 176,558 over the ten days of competition in Las Vegas, resulting in a non-gaming economic impact of $87.9 million for the destination.
In 2014, the Wrangler NFR will run from Dec. 4-13 at the Thomas & Mack Center.
Friday's announcement comes despite attemps from Dallas and Osceola County, Florida to lasso the NFR away from Las Vegas.