Posts Tagged ‘Payouts’

WWE’s value has dropped from $4.995 billion to $4.485 billion.

Obviously, that’s still a staggering amount of money, but the company’s overall value has gone down 10.21% since reports surfaced in The Wall Street Journal alleging sexual misconduct from Vince McMahon towards a female employee.

That 10.21% equates to $510 million.

IndieWire also reported that some metrics have actually gone up for the promotion. This past week’s editions of Raw and SmackDown, for example, had higher ratings for some segments than WWE has experienced lately. That, of course, could have something to do with the ongoing controversy.

WWE announced McMahon for last Friday’s SmackDown ahead of time, but they kept his showing on Raw under wraps until it happened.

The company’s value fell from $4.995 billion to $4.823 billion within 24 hours of allegations surfacing against Vince and John Laurinaitis. By Friday, that number had dropped to $4.647 billion, and it continued to plummet towards the $4.485 billion figure.

It’ll be interesting to see if things stabilise soon, or if that number will keep dropping. WWE definitely won’t see it as a plus that value has gone down over $500m, that’s for sure.

As noted, Vince McMahon is reportedly being investigated by the WWE board of directors over cash settlements made to former employees over alleged misconduct. WWE Head of Talent Relations John Laurinaitis is also named in one of the settlements.

The investigation began in April after the WWE board was made aware of a $3 million settlement between McMahon and a former paralegal for the company with whom McMahon allegedly had an affair.

The settlement was from January of 2022, and a statement from the WWE board claims that the relationship was consensual. Upon further investigation, there were numerous settlements with former female employees to silence allegations of misconduct, which is when John Laurinaitis’ name was mentioned.

Fightful Select has backstage news about the ongoing allegations against both McMahon and Laurinaitis.

According to the report, sources that Fightful spoke to have indicated that the relationship between McMahon and the paralegal was suspected by many in the company and it was hinted that she was given a substantial promotion around the time of the April 2021 WWE cuts. She was promoted from John Laurinaitis assistant to a “director” role that spring.

Stephanie McMahon is on the company board and would have been aware of the investigation as would Nick Khan and Triple H.

Fightful also asked about Nia Jax’s tweet from April 30, “It’s a shame, some people deserve to get the opportunity to shine like the star they really are, but unfortunately certain higher-ups can never see past their own perverted ways. Too bad, there aren’t the lucky ones who can use blackmail to keep their jobs.”

There was no mention of it from any higher-ups and the tweet was just dismissed as “bitter.” The tweet would have been after the investigation was underway too.

When John Laurinaitis was given back the spot as Head of Talent Relations in 2021, female talent were frustrated with the move. One source revealed today, according to the report, that she would rather get all her stuff sent to her in a trash bag when she gets fired than to have to deal with Laurinaitis.

One former office employee also said that they believe this will be a “domino effect” and Vince McMahon will fight hard to stay, but doesn’t see a situation in which Laurinaitis doesn’t resign.

There are also assumptions that these allegations are the biggest threat to McMahon’s power in WWE since the steroid trial nearly three decades ago.

It was also noted in the report that some sources that Fightful spoke with expected John Laurinaitis to be replaced before all is said and done, and one speculated that he’s being set up as the “latest fall guy for Vince, his turn in line was coming.”

One male wrestler who was active from the 2000s and 2010s told Fightful that there long had been rumors of John Laurinatis’ misconduct, while a former writer said it was an open suspicion in the mid-2000s.

Now entering its 12th day, the saga of Neville’s seemingly imminent WWE departure is yet to reach a conclusion, but’s Justin Barrasso has delivered a fresh update on the situation.

According to the write-up, the former Cruiserweight Champion had been “miserable” since January, with many expecting him to walk out far earlier than when he did. As per the original reports, Neville deserted last Monday’s Raw after rejecting the idea of losing a non-title match to Enzo Amore.

The Englishman was upset with his pay, but there was more to it than that. His WrestleMania 33 match with Austin Aries was omitted from the DVD release, denying him royalties, and Neville was furious with the company for disregarding his service and undermining his value this way. Barrasso reports that his walk-out has infuriated Vince McMahon, who sees leaving WWE as “the kiss of death.”

Unfortunately for Neville, his future is out of his hands at the moment. It’s up to McMahon to decide whether or not he’ll let the former ‘King Of The Cruiserweights’ walk away, or make him sit out the rest of his contract, though Neville is “betting on himself” to prosper in NJPW or Ring Of Honor.

With 17 years of combat sports experience under his belt, Mark Hunt is well aware of the nature of the business.
Never has that been more evident than in the aftermath of UFC 200, where Hunt faced off with a returning Brock Lesnar, an opponent who would later be busted for failed in-competition and out-of-competition drug tests in the weeks following the event.
The news has put “The Super Samoan” on the warpath. He’s asked for Lesnar to forfeit his fight night wages to him, accused Lesnar and his camp of blatantly cheating, and now he’s demanding answers from the UFC.
Specifically, Hunt questioned how the UFC could remove Conor McGregor from UFC 200 for not fulfilling his promotional responsibilities in April, while Lesnar wasn’t only free from those responsibilities due to his being booked only a month away from the event, but also given an exemption from a four-month drug testing period normally required of fighters coming out of retirement.
“Once they decided they were going to cut Conor out, they didn’t care, they just needed a name to make 200 big.” Hunt said in an interview with his website, “Exemptions for Brock but not for Conor, I don’t know how you can just do that.
“These guys have lined their pockets with our blood if you ask me. I mean they deserve to get paid no doubt, they took the UFC from nothing into what it is today, but come on, most of the guys fighting get paid nothing and have no benefits.”
Hunt went on to call for a system where the promotion and the fighters work together to decide what’s best for everyone when it comes to issues like drug testing, the Reebok sponsorship deal, and overall athlete compensation.
That said, he noted that much of the responsibility falls on the fighters who “refuse to support other fighters when they f— us over.”
Hunt has yet to hear back from the UFC about his comments regarding Lesnar, and he isn’t holding his breath. Nor is he concerned about how they’ll react to his criticism of their business.
“I’m not worried about the UFC,” Hunt said. “Shucks, I’ve been fighting my whole life. Fighting to survive in my home, to the ring and now cage. These guys didn’t even want me in the UFC but here I am. I’m not scared of them.”