The event is a fundraiser for the rodeo grounds McLeod is currently building, and local charities, as well as to prepare for the first rodeo planned for next year.
Although the group had originally requested that the City donate the use of the arena for the event, that request has been withdrawn.
However, at Tuesday's city council meeting, council instead approved a reduction in their rental fee, at a sponsorship amount of $3,470.
This will be a one-time sponsorship aimed at helping with future PBR events in town, and recognizing the contribution the new rodeo grounds will bring to the community.
McLeod will still pay $13,850 for the use of the arena for the weekend.
The group says that 15 per cent of the profits from the upcoming bull riding event will go to the development of "The Horse Ranch", a new rodeo ground being developed in Fort St. John.
30 per cent will go to the B.C. High School Rodeo Association for equipment in The Horse Ranch facility, while the remaining 55 per cent will be allocated to the Hospital Foundation as well as the Cowboy Crisis Fund, which provides financial assistance to injured cowboys.