Wrestling In The Time Of COVID-19: the new thread

[Ja'moke]

Rusev looks to be gone: https://twitter.com/RusevBUL/status/1250515808356188160

EDIT: Sorry, Mobius got there first.

[BeardFaceMan]

Just saw someone mention on Twitter than Vince is worth 1.7 billion and that this is disgraceful etc etc, but it got me thinking, he was nearing like $4 billion less than a year ago... how much of this is just blind panic at the idea that he might not be a billionaire anymore?

Yeah, he's got to hang on to those 3 commas. As noted, he sold a lot of stock to fund the XFL, which went tits up, WWE's stock price has been falling, I think Shane and Steph were dumping shares at one point. Meltzer is saying that apart from Vince's worth, WWE itself has $500 million in cash reserves and even without that cash they're still expected to make a profit, which makes these releases even more scummy, seeing as the reason he has those cash reserves are because of the hard work of people he's releasing. Something like Saudi Arabia happens and you think WWE can't stoop any lower and then Vince comes out to prove everyone wrong. Fuck this company.

[Mobius]

There'll be more won't there... No NXT or 205 mentioned yet?

Wonder if the rest get announced after NXT airs today...

[Ja'moke]

There'll be more won't there... No NXT or 205 mentioned yet?

Wonder if the rest get announced after NXT airs today...

Slice Wrestling (not sure how reliable) said the NXT releases not expected to be announced until after tonight's episode.

[peanutbutter]

Makes the Revival's release a bit weirder, doesn't it? Like, why give them a prominent send off when you could bury them amongst the rest of these.

[Timothy]

People on Twitter and Instagram are talking about Ember being released. Cant find any source.

[Delete Delete Delete]

I'd imagin it was because their contract expired on that date?

[Delete Delete Delete]

I imagine Lana will be the next to be released then? They did Mike and Maria one after another..

[Timothy]

Rusev officially released.

[Timothy]

Among the WWE cuts today have been writers.

Andrea Listenberger, who had been working on the Smackdown side, announced her exit.

She wrote the Otis and Mandy segments.

[peanutbutter]

Considering WWE pulled some favours with Trump to get that Florida rule done, and Vince has been named in his pretty embarrassing group, are we nearing the point where it'll be very hard for the general public to separate politics from supporting this company?

[Mobius]

That Drake Maverick tweet video is a real choker. You get the impression that he is hugely popular, loved by everyone and just a great bloke

[Spode]

I've thought for a while now (hardly original like, I think most people have done) that the Saudi deal and that megabucks FOX deal was essentially life support for WWE and that long term they were in very real danger of going under. That date could be coming a lot sooner. I know there's huge mitigating circumstances for their ratings recently but they must be worried now that that number is just their core audience. Realistically, how many hundred thousand can be added to that RAW number whenever this whole thing is over? Also, presumably NFL, NBA schedules are going to be unrecognisable whenever restrictions are lifted, so there's not even a guarantee that they won't run against them all regularly. The next TV deal, if this one isn't re-negotiated  by the networks, won't touch the current one and then what are they left with? A network they've airbrushed out of existence over the last two months and a core audience of a million.

[peanutbutter]

I've thought for a while now (hardly original like, I think most people have done) that the Saudi deal and that megabucks FOX deal was essentially life support for WWE and that long term they were in very real danger of going under.

I've gotten the impression for a looooooong time that Vince is operating on some sort of basis that he'll be able to cash out for a huge sum regardless and has been a bit more reckless as a result. Disney's WWE, or something similiar.


I think AEW may have fucked this a bit for him as it gives people an alternative to assess the market with, it'd be harder for some execs to convince themselves they could bring back the ratings of yesteryear.

[Ja'moke]

I've thought for a while now (hardly original like, I think most people have done) that the Saudi deal and that megabucks FOX deal was essentially life support for WWE and that long term they were in very real danger of going under. That date could be coming a lot sooner. I know there's huge mitigating circumstances for their ratings recently but they must be worried now that that number is just their core audience. Realistically, how many hundred thousand can be added to that RAW number whenever this whole thing is over? Also, presumably NFL, NBA schedules are going to be unrecognisable whenever restrictions are lifted, so there's not even a guarantee that they won't run against them all regularly. The next TV deal, if this one isn't re-negotiated  by the networks, won't touch the current one and then what are they left with? A network they've airbrushed out of existence over the last two months and a core audience of a million.

The thing is, ratings are down on TV across the board. And despite this, Raw and SD are still topping the night in cable demo ratings.

[Ja'moke]

Yeah, he's got to hang on to those 3 commas. As noted, he sold a lot of stock to fund the XFL, which went tits up, WWE's stock price has been falling, I think Shane and Steph were dumping shares at one point. Meltzer is saying that apart from Vince's worth, WWE itself has $500 million in cash reserves and even without that cash they're still expected to make a profit, which makes these releases even more scummy, seeing as the reason he has those cash reserves are because of the hard work of people he's releasing. Something like Saudi Arabia happens and you think WWE can't stoop any lower and then Vince comes out to prove everyone wrong. Fuck this company.

Apparently that $500 mil in cash reserves is wrong.

"There seems to be misconception that WWE has 500 million in cash on hand. They had $90 million in liquid cash at the end of 2019 on their balance sheet. That means the rest of the liquidity would come from fully leveraging existing revolving credit lines. They also have $350 million in ongoing liabilities when it comes to leasing buildings and equipment, debt service, and outstanding income from places such as Saudi Arabia. These numbers are all publicly available on WWE's investor page." - https://twitter.com/barnettjake/status/1250535470855081984?s=20

[BeardFaceMan]

Apparently that $500 mil in cash reserves is wrong.

"There seems to be misconception that WWE has 500 million in cash on hand. They had $90 million in liquid cash at the end of 2019 on their balance sheet. That means the rest of the liquidity would come from fully leveraging existing revolving credit lines. They also have $350 million in ongoing liabilities when it comes to leasing buildings and equipment, debt service, and outstanding income from places such as Saudi Arabia. These numbers are all publicly available on WWE's investor page." - https://twitter.com/barnettjake/status/1250535470855081984?s=20

In typical Meltzer style he's still arguing the point, saying that the $500 million figure was on a WWE press release.

[MrMrs]

Dunno the story but Dave is right

[hummingofevil]

I've thought for a while now (hardly original like, I think most people have done) that the Saudi deal and that megabucks FOX deal was essentially life support for WWE and that long term they were in very real danger of going under. That date could be coming a lot sooner. I know there's huge mitigating circumstances for their ratings recently but they must be worried now that that number is just their core audience. Realistically, how many hundred thousand can be added to that RAW number whenever this whole thing is over? Also, presumably NFL, NBA schedules are going to be unrecognisable whenever restrictions are lifted, so there's not even a guarantee that they won't run against them all regularly. The next TV deal, if this one isn't re-negotiated  by the networks, won't touch the current one and then what are they left with? A network they've airbrushed out of existence over the last two months and a core audience of a million.

I would also add that by the state of the reactions today (not on here obviously) it appears a substantial proportion of WWE's fanbase are complete dicks. When you remember that the whole point of the TV money is so TV companies can advertise to potential customers then fuck knows why you would want to bother  with these cunts unless you selling WWE merch and dental dams?

[hummingofevil]

Anyway. Dynamite is still loads of fun. Not feeling too guilty as its all pre recorded and they have padded it out with a lot of cool extras. Britt Baker, The Inner Circle (I won't spoil it for you) and a load of very cool promos for Moxley Hagar. Screw the ratings but this is a perfectly watchable TV show.

[Timothy]

Cody on Instagram

I'd like to take a moment to say how proud I am to be a friend of @zryder85 - In a world of weekend warriors and "play wrestlers", this dude exudes passion and drive for pro-wrestling like no other. Through 14 years to see him CONSISTENTLY try to better himself(whether that be his in-ring work, or watching him physically mold himself and his body into such a specimen DRUG FREE with hard work and will). I have a little rule, and that's that if you've ever "gotten over" in wrestling...you can always do so again. That rule being fully applicable to Matt now. At 34 years young, his best wrestling days are ahead of him. Cheers to a great start and 14 years of unrelenting blood, sweat, and tears. Future endeavors are limitless when you actually endeavor. I chose this picture because it was one of my last days at WWE, watching 80,000+ people applaud as Matt won gold was an eruption not only live in the arena but in the locker room as well. Hearing Dolph coordinate for his father to come over the rails(meanwhile I was ass deep into a broken ladder and stuck but had the best seat in the house) and seeing father/son embrace, I thought I'd be jealous or bitter, but I was truly happy and proud for one of my peers. Congratulations my friend, and good luck!
3h

Really hope that both he and Curt, Slater and Logan are going to be hired by AEW.

[Timothy]

Seems Kassius Ohno is (about to get) released. He's in the alumni section on WWE.com.

[confettiinmyhair]

Yes, the Saudi and TV deals are huge for the WWE but I also wonder how much money they lose from not being on the road. How much revenue was lost in merch alone over Wrestlemania weekend. The show is still a circus and no matter what happens with television, the road has been the 'guaranteed' revenue.

[Spode]

See Rollins can't understand the stick WWE are getting. Woof. His solution seems to be to work hard to make sure there's a place for them all to come back to in the future.

[Timothy]

Rollins is incredibly supporting of the other wrestlers on Twitter and said the cuts broke his heart on Instagram. I really have no idea what you are talking about.

Edit: Did you mean this? Because I don't see much wrong with it.

"For all of us that were fortunate enough at this moment to still be able to have a position where we can collect a paycheck, and we can support those who love us and those around us, I think we have to take it upon ourselves to work harder to make sure that there's a place for all those that had it worse today to come back to. As a planet, we can rally around the idea that this is only temporary and those that lost their positions and are struggling to figure out what to do next, that they will be able to make it back from this. Whether that's with WWE or with another organization, or a completely new field, this isn't the end. I think that if we start fighting among ourselves, it's only going to make things worse. So, I just encourage everyone to try to come together on this, try to support each other, and lift each other up."

[Spode]

Rollins is incredibly supporting of the other wrestlers on Twitter and said the cuts broke his heart on Instagram. I really have no idea what you are talking about.

Edit: Did you mean this? Because I don't see much wrong with it.

The bit where he literally says 'one thing I am seeing which is a little upsetting to me is all the negativity and hostility towards WWE' and 'we have to take it upon ourselves to work harder and make sure there's a place for those who had it the worst today to come back to' mostly.

[BeardFaceMan]

Company man Seth Rollins, there. It really is like they drink the kool-aid once they get to WWE, Rollings especially is particularly embarrassing with his arse-kissing.

[Huxleys Babkins]

That Drake Maverick tweet video is a real choker. You get the impression that he is hugely popular, loved by everyone and just a great bloke

His match with Mike Kanellis on 205 Live earlier this year was easily one of the best matches I've seen so far this year. Both of them gone, both of their WWE careers defined by shitty, emasculation gimmicks.

I hope everyone released lands on their feet. That's an insane amount of talent waiting to be scooped up once this is over.

[Moribunderast]

Not that I give WWE any money these days but, after today's events, never again. Nobody should be in any doubt about what a cunt, sociopath, genuinely evil businessman Vince McMahon is but today is a grim reminder. I notice quite a few who got sacked were people who had previously asked for releases or been publicly critical of the company. Wonder if it gave the old shithead a tiny boner giving them what they "want" at a time when they have nowhere else to work in the midst of the biggest period of financial uncertainty faced in probably all of our lifetimes.

Maybe it's easier for me because I've thought the WWE's product has been unwatchable garbage for years now but I just can't fathom what there is left to support. Shit shows, cruel management, reckless health endangerment, bribing government officials... what a genuinely hideous company. I hope they go out of business and Vince is still alive to see it.

[hummingofevil]

Yes, the Saudi and TV deals are huge for the WWE but I also wonder how much money they lose from not being on the road. How much revenue was lost in merch alone over Wrestlemania weekend. The show is still a circus and no matter what happens with television, the road has been the 'guaranteed' revenue.

All I can remember from last analysis of financial reports was that house shows were pretty much break even. They were making nothing from them. Obviously that is different from "live shows" as I'm sure the PPV and RAW/Smackdown attendances are good and profit making but the money really is in the TV (I so much wanted to type "banana stand" there).

It worth repeating. They get over half a billion quid each year for audiences of a couple of million (population 350million)  twice a week. I've had people try to justify this as RAW and Smackdown cost $1million per episode to produce. WWE get paid x5 that per episode. $5million per episode from USA and same again from FOX. It's insane.

I was convinced it was just a scam to funnel money from FOX to Trump via Vince and Linda. It's still technically true but maybe I was being a little too cynical.