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Grimes County judge has ruled in favor of a group of companies seeking to purchase the Texas Renaissance Festival, awarding over $22.3 million in damages and $1 million in attorney fees. The judge also granted specific performance of a disputed sales agreement, allowing the plaintiffs to enforce the contract.
The civil case stems from a $60 million purchase agreement involving the festival's grounds, assets, and nearby property. The plaintiffs allege that festival founder George Coulam and his companies failed to deliver required closing documents for agreements signed in April 2023. According to court records, the defendants "went silent" and ignored their obligations under the agreements.
The ruling is a significant victory for the plaintiffs, who had sought damages for lost revenue resulting from the delayed performance of the contract. The judge has asked the plaintiffs' attorney to draft the final judgment, which will trigger a 30-day window for appeals.
Legal experts say this dispute is far from over and that both sides may appeal the ruling. "In my judgment, this is far from over," said Terrance Dill, a partner at West Webb Allbritton & Gentry in College Station. "Either side has 30 days to file an appeal or a motion for new trial."
The lawsuit claims Coulam and his companies failed to meet closing obligations, including depositing $400,000 into escrow and paying $11.6 million at closing. The plaintiffs also signed a $36 million promissory note for the main festival property.
The Texas Renaissance Festival has responded to the ruling, stating that operations will continue as planned for the 2025 season. "Our commitment remains unchanged: to deliver a safe, vibrant, and memorable experience for our guests," said General Manager Jeffrey Baldwin in a statement.
