LAS VEGAS (KLAS) – Las Vegas will be the home of The National Finals Rodeo for the next 12 years, according to Las Vegas Events and the Professional Rodeo Cowboys Association.

The agreement will keep The NFR in Las Vegas through 2035. The new agreement will begin in 2024, replacing the previous contract that was scheduled to expire in 2025.

Las Vegas Events will also 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 more than $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.

“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.”

The NFR will run from Dec. 5 -14 at the Thomas & Mack Center.