Following yesterday’s announcement of WWE releasing a number of staff and talent both behind and in front of the camera, it appears that the wrestling company could have saved around $30 million dollars alone in 2019.
This begs the question, could this have spared WWE making such widespread financial cuts?
It was revealed on Forbes back in 2019 that the likes of Brock Lesnar was earning $10 million dollars for defending the WWE title at just a handful of high profile pay-per-view events such as WrestleMania, Saudi Arabia’s Crown Jewel and Summer Slam.
One of Lesnar’s opponents. meanwhile, UFC fighter Cain Velasquez, earned an estimated $5 million dollars for just fighting a largely unmemorable match at the Saudi Arabia pay-per-view event.
While at the same event, WBC heavyweight boxing champion Tyson Fury was earning a reported $15 million for his encounter with Braun Strowman.
Indeed, the timing of the announced staff cuts also appeared strange as it came two days after the decision was made that WWE was declared an essential business and retained its permission to continue filming at the Performance Center in Orlando, Florida behind closed doors.
While, according to WWE’s financial expert Brandon Thurston, it was forecasted that Vince McMahon’s company would achieve a record-breaking profit year with its additional deal with Fox Sports only increasing revenue for showing their content even if they have to air archive footage.
It was revealed that as many as 21 superstars were released from the business, and more are expected over the next few days.
Dave Meltzer suggested that the cut backs could save between the region of $703,000-4million dollars a month.
Wrestling fans have already displayed their fury on social media, however, with one saying: “I’ve never been more disappointed in this company. It’s impossible to defend them anymore. It’s embarrassing and carny.”
Above all else, however, the numbers reveal that these releases were made to maintain predicted profit margins and were not a necessity but a choice.
- Howard Finkel passes away aged 69
- Talent cuts will reportedly save WWE $703k-a-month
- Superstars react to WWE release spree