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Post by Joe Neglia on Apr 10, 2020 15:33:33 GMT -5
I posted this in the WWE/Coronavirus thread about two and a half weeks ago: I'm calling it now - before the end of May, WWE is going to come to terms with a large amount roster members' releases. Probably the biggest mass release they've ever done. No news, no newz, just gut feeling. I'm not looking forward to being right on this, but we're about to hear of a large amount of releases. I'm going to guess mostly lower-level NXT developmental and undercard and guys who appear mostly on Main Event, if at all. With Wrestlemania done and over with, and the XFL imploding, the cuts are on their way. Am not looking forward to this at all.
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Post by arrogantmodel on Apr 10, 2020 15:35:23 GMT -5
Agree 100%.
Not that I want people to lose jobs, especially now, but the WWE does not need to hoard talent like they have, and most, if not all of the releases could flourish somewhere else.
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Post by Mozenrath on Apr 10, 2020 15:38:54 GMT -5
Likely so. I imagine that there's also the possibility that some people who were waiting out their contracts, anyway, might be stuck getting extensions to keep them, but really, I do bet more are coming, too.
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Post by Baldobomb-22-OH-MAN!!! on Apr 10, 2020 15:42:31 GMT -5
Even without coronavirus, WWE's "sign everyone in sight" M.O. was never going to be sustainable.
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Post by eJm on Apr 10, 2020 15:43:42 GMT -5
It sort of makes sense, as I said in the Revival thread, so then they can say at the end of the year “We managed to make more money and ride out this storm”.
Like, I don’t want anyone to lose their jobs either but there’s no real logical reason as well to be paying as many people as you are right now if you’re going to just be using people from the immidiate area in Florida for the potential long term.
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Post by Citizen Snips Has Left on Apr 10, 2020 15:45:25 GMT -5
The reports were they lost around $22 million on Mania and who knows how much out of Vince's own pocket with the XFL, in addition to whatever they've been losing on the weekly shows...they're definitely going to be bringing the axe down like they haven't in years.
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Post by Captain Stud Muffin (BLM) on Apr 10, 2020 15:48:47 GMT -5
Yea, if you want your release now is most likely the time to ask for it while you can see some just being outright released due to not being used
Vince took a personal L with the XFL being shut down due to the virus and the company took an L not getting revenue from Mania
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Post by cjh on Apr 10, 2020 15:51:08 GMT -5
Any losses the XFL takes won't be on WWE's books. They'd be taken by Alpha Entertainment, which is 100% owned by Vince McMahon.
Also, not having house shows should be less of a blow then it seems on the surface because they were money losers.
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Post by slaughterama on Apr 10, 2020 15:58:06 GMT -5
The reports were they lost around $22 million on Mania and who knows how much out of Vince's own pocket with the XFL, in addition to whatever they've been losing on the weekly shows...they're definitely going to be bringing the axe down like they haven't in years. I'd be interested in knowing the financial difference with the weekly TV shows. On one hand, you're losing the gate from the live crowds, but on the other hand, that TV money is guaranteed and they're saving a small fortune on production/travel/talent expenses.
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Post by Wieners=$$$ on Apr 10, 2020 16:00:43 GMT -5
There are plenty of places to find work for anyone leaving the WWE, but in this current climate, how many companies are going to be fast to spend money on new talent? What can independent wrestlers do to find work/stay relevant going forward?
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Post by ThankGodForSidJustice on Apr 10, 2020 16:01:37 GMT -5
I can see a lot of people who haven't been happy and have wanted out for a while like the Revival getting released first. Then they'll probably get rid of a lot of lower card talent who aren't doing anything probably next month. It sucks that if would take something like this for them to do it but they've really needed to cut the fat for a while now.
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Post by Joe Neglia on Apr 10, 2020 16:03:27 GMT -5
Any losses the XFL takes won't be on WWE's books. They'd be taken by Alpha Entertainment, which is 100% owned by Vince McMahon. Also, not having house shows should be less of a blow then it seems on the surface because they were money losers. XFL doesn't come out of WWE's books, but Vince just lost his other "big moneymaker" and all he has is WWE now, which is losing money too. Even if they aren't tied together corporate-wise, Vince's personal bank account got hit hard on both sides. Also, that less house shows being a good thing is a bit of a myth. They were making enough to pay the guys working them, if no one else.
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Post by Ryushinku on Apr 10, 2020 16:05:27 GMT -5
Yeah, seems dead certain to me as well.
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Post by cjh on Apr 10, 2020 16:10:49 GMT -5
Any losses the XFL takes won't be on WWE's books. They'd be taken by Alpha Entertainment, which is 100% owned by Vince McMahon. Also, not having house shows should be less of a blow then it seems on the surface because they were money losers. XFL doesn't come out of WWE's books, but Vince just lost his other "big moneymaker" and all he has is WWE now, which is losing money too. Even if they aren't tied together corporate-wise, Vince's personal bank account got hit hard on both sides. Also, that less house shows being a good thing is a bit of a myth. They were making enough to pay the guys working them, if no one else. Was WWE losing money before this? I know they'd lose money for one quarter here and there but nothing consistent. I'm curious to see how much is being saved in production costs by doing these block tapings. When they wanted to save money in 1997, they cut the amount of Raw episodes done live in half.
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Post by Deleted on Apr 10, 2020 16:12:19 GMT -5
I'm excited to see some underused guys in AEW.
Revival vs Young Bucks should be a MOTYC.
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Post by Joe Neglia on Apr 10, 2020 16:13:56 GMT -5
I'm excited to see some underused guys in AEW. Revival vs Young Bucks should be a MOTYC. That's the catch-22 of this. Outside of a few key people, the Revival being two, I don't see a whole lot of the releases (should they happen) getting picked up right away by anyone. No one's going to be in hiring frenzy mode right now.
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Post by Perd on Apr 10, 2020 16:14:30 GMT -5
The Revival should be fine. It already kinda feels like they’re in AEW. But for some, who want out, it may be a case of be careful what you wish for. We’re living in a scary, unknown time. Employment can’t be taken for granted. If the biggest wrestling company , in the world, has to tighten their belt, it’s probably safe to assume the rest do, too.
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Post by Bub (BLM) on Apr 10, 2020 16:17:44 GMT -5
The sad thing is, they could make a lot of cuts that would hurt far less than what they'll do. For instance, now is the time to look at Lesnar and say "Okay, this dude isn't really moving the needle at all, and he's financially secure for life. We don't need to keep dumping money into him." Mutually part ways, let that be that.
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Post by kingoftheindies on Apr 10, 2020 16:19:47 GMT -5
I feel terrible that this will be happening due to covid19 but it was unfortunately something that was going to becoming inevitable for WWE.
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Post by Joe Neglia on Apr 10, 2020 16:20:27 GMT -5
The sad thing is, they could make a lot of cuts that would hurt far less than what they'll do. For instance, now is the time to look at Lesnar and say "Okay, this dude isn't really moving the needle at all, and he's financially secure for life. We don't need to keep dumping money into him." Mutually part ways, let that be that. Depends on how his contract is set up. He could sue them hardcore if they broke it to release him.
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