WWE sales speculation spreads amid today’s releases
There has been a lot of speculation recently online and within WWE about a potential sale of the company.
WWE has made a number of budget cuts lately, with one round taking place in mid-April as well as April 2020, another in mid-May, and then all 6 outings today – Braun Strowman, Lana, Aleister Black, Ruby Riott, Buddy Murphy, and Santana Garrett. There was also the major corporate restructuring that took place in May, led by WWE President and Chief Revenue Officer Nick Khan. Khan was recruited in August 2020, and this latest corporate makeover isn’t his first move that has fueled rumors of a WWE sale to a company like Comcast, FOX, or Disney.
Khan appeared on Colin Cowherd’s podcast to promote WrestleMania 37 in April and discussed a potential sale. Cowherd has highlighted how turbulent WWE is around the clock, and WWE CEO Vince McMahon is at the point where he doesn’t need the money these days. He then speculated that WWE must have had offers to sell and asked Khan why Vince wasn’t letting go of the company. Khan said he didn’t believe Vince wanted to sell the business, mainly because he built it, and because he was the best person to run it, and what else would he do? Khan also said that a few years ago a WWE executive asked where Vince was spending his summer, and Vince asked him what was he talking about as he planned to spend his summer in Stamford, CT in his WWE HQ office. Khan noted that Vince won’t be the guy relaxing on a yacht somewhere.
After announcing today’s releases, former WWE writer Dave Schilling tweeted why he thinks WWE is preparing for a sale.
“You don’t reduce talent assets to this level unless you are trying to maximize profits before a sale” Schilling wrote. He added: “Braun is a legitimate top man, a former world champion and a freight mover. Alastair Black was broadcast on TV LAST WEEK. It is very revealing. “
Brandon Thurston of Wrestlenomics wrote a lengthy post on Twitter about why he thinks a WWE sale isn’t happening.
“The hunch that WWE is preparing to sell is a matter of the cynical fatalism of wrestling fans,” Thurston wrote. “New leadership came in August and is still in year 1. I would be shocked if WWE were to sell while Vince was alive. 1) Nick Khan told Cowherd that Vince had no intention of selling. 2) I can’t imagine Vince doing anything else. Layoffs, releases and restructurings probably have more to do with Nick Khan and Kristina Salen criticizing and reshaping what George Barrios and Michelle Wilson left behind. Every few years, WWE has cut back on workforce and talent.
“WWE had over 300 wrestlers on contract in 2020, far more than they need, for virtually no other reason than to spare them from the competition. This probably contributed to the influence of talent in salary negotiations. New leaders might not see this approach as cost effective. If you’ve followed Vince’s career, he’s an end-to-end control freak. This trend has increased over time. I tend to believe that control is priceless for him. When he’s gone, WWE could sell and NBCUniversal is the most obvious contender and really the only one that makes sense.
Thurston went on and addressed some of the speculation on the list.
“Of course, wrestlers too can look for a major reason why they themselves or their friends were cut,” he continued. “78 out of about 300 of them have wrestled in all of Network TV / WWE’s shows in the past full week, including those right at ringside, and more have appeared in roles other than wrestling.” . Even taking that into account and a substantial number offscreen in development or with injuries, the report doesn’t make sense. The defense built to guard against AEW (putting NXT head-to-head over cable and warehousing talent) is expensive, ineffective, and somewhat undone.
Several professional wrestlers also took to Twitter today to comment on a potential WWE sale.
Former WWE Champion CM Punk tweeted a GIF from the movie “Trading Places” and included the hand emoji, as seen below. The GIF shows Dan Akroyd’s character selling his stock on the stock exchange.
ECW Original The Blue Meanie tweeted: “Vince has to position himself to sell WWE, right?”
ECW’s Joel Gertner also weighed in, writing: “Billionaires crave happiness, just like everyone else. As a business owner, who wants credit for growing their business, the two happiest days in the business and owner’s journey are always the day the business is bought and the day the business is bought. the business is sold. “
The legendary Dutch Mantell (fka Zeb Colter) reminded everyone how he passed on an incorrect WWE and Disney rumor last year, and said it looked like something could happen now.
He wrote: “I reported last year that @WWE was being sold to Disney. Most people answered STFU. But lately it looks like something is going on and it could be true. Do you think Vince could sell?
These sales rumors have been circulating for years, but recent cuts and restructurings have brought them back to the forefront. As WWE is a publicly traded company, it cannot be outright “sold” to a buyer as there are several factors at play including Vince’s controlling stake and regulatory approval.
Stay tuned for more on WWE budget cuts and any potential sales. You can see tweets from related wrestlers below:
– player / coach (@CMPunk) June 2, 2021
Vince has to position himself to sell WWE, right?
– Brian Heffron aka The Blue Meanie (@BlueMeanieBWO) June 2, 2021
Billionaires crave happiness, just like everyone else.
As a business owner, who wants to credit the growth of his business, the two “happiest” days in the business and the owner’s journey are always the day the business is bought and the day the business is bought. business is sold.
– Joel Gertner (@StudMuffinSays) June 2, 2021
I reported last year that @WWE was being sold to Disney. Most people answered STFU. But lately it looks like something is going on and it could be true. Do you think Vince could sell? @SKWrestling_ @RickUcchino
-. (@DirtyDMantell) June 2, 2021