The Rusev decision is a huge mistake. Reminds me of when WCW let go of guys in their prime who are always over like Austin, Pillman, Dustin Rhodes and Vader.
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Yes, these cuts are happening because of the Coronavirus but the XFL filing bankruptcy has a lot to do with it also, now that we know the WWE owned 23% of it. The saddest part is all these people losing their jobs and because of the XFL filing bankruptcy, Vince will take a hit but will still be a multi-millionare. If the Saudi money ever runs dry, theyll be in deep trouble.
Hearing in NXT, Serena Deeb, Ace Steele, Kendo Kashin, and Dan Matha are gone joining Deonna Purazzo, MJ Jenkins, and Aleksander Jaksic. Chris Hero might be gone as well.
Not to mention the $18 million given to Florida / Trump.
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To update, I heard about Hero on reddit and it was said his profile was in the alumni section with other released talent, including Deonna Purazzo.
Heâd be great in AEW.
I actually really like Lio Rush too - I think he could be this generationâs Rey Mysterio but WWE never really gave him a chance on the main roster.
If Iâm AEW I donât sign him yet but let the guy mature and see how he handles himself for sometime on the indies and then scoop him up. He is incredibly talented but just isnât a guy that fits in the WWE/NXT system at all
You gotta wonder about NXT UK. It would make sense just to cut the entire roster, save for Walter.
They had over 300 wrestlers under contract. Many with no spot or reason to be there other than they were hired or extended to keep them away from other companies. This was bound to happen at some point. Poor financial decisions led to this and it was all accelerated by Covid-19. The guy on top proclaiming and reassuring investors that he had half a billion dollar in assets stopped looking around 9AM this morning.
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Its like playing the first week of Extreme Warfare Revenge where the WWE dumps everyone. That game IS realistic!
They can do but with all the live shows/traveling, I really donât see that going well.
That could be the straw that breaks the camelâs back.
Also havenât they cut some of the talentâs expenses?
I thought that too but as someone else pointed out, its purpose is to take over the British scene
But to what end? Theyâre operating at a loss. If youâre company is serious about cutting costs, wouldnât you start with the least profitable division?
Something I havenât seen anyone mention is the possibility of delayed payments by networks and lending covenants.
Lending covenants are stipulations creditors place on borrowing. For example, maintaining cash reserves of X. Limiting liabilities to Y. Timing of payments not being delayed.
In the current environment if there are delayed payments (even if in full) it may be placing covenants in threat. If those are triggered creditors can take action on the company.
This is NOT justifying or saying what is happening. Itâs another business reason that would help explain the need to maintain certain free cash flow, or liquidity / debt capacity.
Sorry if this triggers anyone. Just feel itâs important to fully understand the type of company being discussed to have an educated conversation that at the best right now is pure speculation, and a lot of assumption about a management team that has no good equity/credibility with a large portion of their audience.
Well, sorry, but according to Big Guns Meltzer, they will save a drop in the bucket from these layoffs. They will still be in the hundreds of millions in profit this year and they will even save some money from house shows, where they were on the losing side.
Meanwhile looking at what (ALL of) the wrestling companies in Japan did yesterday, also what ROH, MLW, AEW are doing in the US, while the biggest company in the world is just⌠I canât find words. This is so disgusting on so many levels.
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Theyâre still paying Kane! And Rousey⌠the part timers are still under big contracts. You could save millions by just cutting them out, temporarily even. After the Saudi shows, we wondered about the morality of this company. Now we know. Not giving them one god damn cent
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Yup they should definitely be cutting part time legend talent first. At the same time they never should have had so many people under contract.
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Remember when Mike and Maria Bennet asked for their release last year and WWE chose to keep paying them to sit at home doing nothing? If the investors know ANYTHING about whatâs going on it might be something that should be asked about at the next conference call.
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They obviously donât care. If they did, there have been plenty of opportunities to challenge far more questionable decisions. Tyson Fury being a prime example.
A lot of people expressing their disgust at what WWE are doing. How many continue to subscribe to the WWE network, watch their programming and will watch in the future? If the answer is yes to any of those questions I would argue you are complicit in that decision.
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