Pro Wrestling! (For Everything WWE , Impact , Indies & Japan !)

[XPac]

It's a 500 million cash reserve

According to this independent analyst, the WWE is still set on having record breaking profits despite this global crisis

https://wrestlenomics.wordpress.com/...sk-assessment/

The releases were purely done to maintain a profit margin. No one needed to lose their jobs. The fucking scumbags.

Cash reverses are cash reserves for a reason. It shouldn't be plan A. Ideally you want to operate your business to maintain your margin of profit without having to do that.

If they are losing millions, and frankly have more talent than they need in the first place then the sensible business decision is to let some people go. It's harsh, but that's just common sense.

[DanMad1977]

Just business my ass. The company isn't at any risk. There's no defending what they did here.

Yes, there is. I let 3 worker go, because covid hit our business. I could survive 3 months without any income and with full costs, but I wouldn't want to try. Because of an uncertain future, I hit the breaks before I get into trouble financially.

Thats forward thinking

You think like a worker not like a business man.

[titanfan]

Yes, there is. I let 3 worker go, because covid hit our business. I could survive 3 months without any income and with full costs, but I wouldn't want to try. Because of an uncertain future, I hit the breaks before I get into trouble financially.

Thats forward thinking

You think like a worker not like a business man.

Yeah, I know a relatively high exec that works for a company who is asking the government for a bailout. I asked why you were asking for a bailout--don't you have enough funds to cover emergencies?

The answer was "of course", but you want to ask for help well before you actually get into trouble not when you actually get into trouble because then it's too late. He then laughed and said "Look at how long it takes to get unemployment or any sort of government help. If we ask now we'll maybe get it before we need it..."

[Immortal Weapon]

I keep hearing the 500M cash reserve number being bandied about and I think it came from Meltzer, but it's just not true.

In 2019, they only had 90M in Cash Reserves: https://www.********/market-data/quo.../balance-sheet

Their operating expenses are 30-35M a month or so--so 90M cash wasn't going to last long. (And you only want to go into your cash reserves when desperate)

Forbes reported it was $500 million
https://www.forbes.com/sites/alfredk.../#25b7e4734119

Cash reverses are cash reserves for a reason. It shouldn't be plan A. Ideally you want to operate your business to maintain your margin of profit without having to do that.

If they are losing millions, and frankly have more talent than they need in the first place then the sensible business decision is to let some people go. It's harsh, but that's just common sense.

The WWE isn't losing anything. That's why this is bullshit. WWE main source of revenue are their TV deals and lesser extent the network. They don't need the popular metrics to stay afloat. This has been reported numberous times. Since they bribed Florida there are in no danger of losing their primary revenue stream. There was no need for these releases. Vince being the ultimate fucking carny.

[DanMad1977]

Yeah, I know a relatively high exec that works for a company who is asking the government for a bailout. I asked why you were asking for a bailout--don't you have enough funds to cover emergencies?

The answer was "of course", but you want to ask for help well before you actually get into trouble not when you actually get into trouble because then it's too late. He then laughed and said "Look at how long it takes to get unemployment or any sort of government help. If we ask now we'll maybe get it before we need it..."

Thats what I am saying. You just said it better

[DanMad1977]

Forbes reported it was $500 million
https://www.forbes.com/sites/alfredk.../#25b7e4734119



The WWE isn't losing anything. That's why this is bullshit. WWE main source of revenue are their TV deals and lesser extent the network. They don't need the popular metrics to stay afloat. This has been reported numberous times. Since they bribed Florida there are in no danger of losing their primary revenue stream. There was no need for these releases. Vince being the ultimate fucking carny.

Maybe Vince wanted to get rid of some workers? That it was just an excuse for firing people? We don't know that...

[Punisher007]

It doesn't help that WWE is the only company doing this. Heck ROH is even paying talent for dates they would have worked but didn't even though they're under do obligation to do so. And the Japanese promotions have banded together to help out. Now might some other companies eventually have to do this, sure, but they aren't no.

Then there's that "donation" that got made before WWE was declared an "essential business" and WWE spending tons of money on guys like Brock, Goldberg, Cain Velasquez,Tyson Fury, Gronk, many of whom barely do anything. Heck even Lashley is reportedly making seven figures. Vince deciding to do live shows again despite it making things harder on the talent, etc.

Basically WWE has handled this terribly from a PR perspective.

[XPac]

Forbes reported it was $500 million
https://www.forbes.com/sites/alfredk.../#25b7e4734119



The WWE isn't losing anything. That's why this is bullshit. WWE main source of revenue are their TV deals and lesser extent the network. They don't need the popular metrics to stay afloat. This has been reported numberous times. Since they bribed Florida there are in no danger of losing their primary revenue stream. There was no need for these releases. Vince being the ultimate fucking carny.

I don't dispute that their main source of revenue isn't TV deals ... but to argue WWE isn't losing anything is simply wrong. They're still losing millions of dollars. F

Yes, they can continue to stay afloat. But it's business 101 to do what you can to avoid getting to that point. There's nothing carny about it... anyone with even the most basic understanding of running a business knows perfectly well it's just common sense. Plenty of business are letting people go ... that's simply the reality of the situation in a difficult economic time.

[XPac]

Maybe Vince wanted to get rid of some workers? That it was just an excuse for firing people? We don't know that...

WWE does generally let go people around this time of year anyways, so there's probably some truth to that. People who haven't been used for months (or years like Colons) probably should have been let go a long time ago.

But there's more to it than just that clearly.

[Noodle]

Wouldn't operating costs be less now as well? The performance center is already in their budget, and the production staff is lower due to social distancing guidelines. While they are loosing money off ticket sales, they are saving money on production.

[XPac]

Wouldn't operating costs be less now as well? The performance center is already in their budget, and the production staff is lower due to social distancing guidelines. While they are loosing money off ticket sales, they are saving money on production.

The fact that they're not using production staff doesn't necessarily mean they're not paying them. It just means they're paying them to sit home and do nothing. THat's sort of the reason why we're getting lay offs and furloughs.

[XPac]

wwe.com has reported that howard finkel has passed away.

To this day I miss Howard announcing someone as the NEW WWE champion. There's a magic to him doing it that could never really be replicated by any announcer in any other wrestling federation.

[skyvolt2000]

Maybe Vince wanted to get rid of some workers? That it was just an excuse for firing people? We don't know that...

Folks you shouldn't have gotten in the first place? Because you wanted to hinder AWE and ROH?

WWE main source of revenue are their TV deals and lesser extent the network.

Like CM Punk said-Vince acts like a Millionaire when he should act like a billionaire.

Look at those ratings for those shows. 4-5 million viewers is FINE if you are some shows. TNA would go NUTS if they got that. Heck the CW Network would kill for those ratings on 90% of their shows.

That is not good for the WWE.

Fans are screaming at you they are tired of Roman & Brock.
Fans have shown you the love for guys like Zack Ryder-who got over all by himself-who get buried by Vince.
New day is your second top cash cow and Kofi can't be world champ once you get ot Fox-part time Brock has to get the belt.
You have an environment where folks WANT to leave and you are suppose to be the top dog.

Any money that they are losing is because of Vince.

He chose to overload his roster with folks. With many sitting at home or backstage collecting checks.

And guess what he is going to lose more money because Mattel is going to give him an earful because how many of those release are going to now have toys in stores like Elijah Burke did for 2 years after he got let go.

Along with folks dumping the network.

This is bad PR because you just had Florida say you are essential. I am sure a LOT of folks don't like that-you haven't seen the loss of money the WWE is going to get over the next few months. Folks have to be entertained is the excuse.

[Jcogginsa]

Howard Finkel has passed away

[titanfan]

Forbes reported it was $500 million
https://www.forbes.com/sites/alfredk.../#25b7e4734119



The WWE isn't losing anything. That's why this is bullshit. WWE main source of revenue are their TV deals and lesser extent the network. They don't need the popular metrics to stay afloat. This has been reported numberous times. Since they bribed Florida there are in no danger of losing their primary revenue stream. There was no need for these releases. Vince being the ultimate fucking carny.

That's interesting, maybe that's where the 500M came from. (It is also inaccurate, unless they were counting from all sources--but that's not the same as cash on hand. WWE is a publically traded company--I have not seen the Q2 earnings sheet yet but jumping from 90M to 500M cash flow in a few months suddenly is weird)

I also agree with assessments from scanning the balance sheets that they are likely still to be profitable even without any touring money/live income. But this isn't exactly my area of expertise.

Do we really know that other companies aren't releasing wrestlers? I would assume most aren't public companies like WWE so if a smaller wrestling promotion wanted to release or furlough people we would never know. Some companies that just pay by taping don't have to worry about it. My worry is that now that WWE has released wrestlers, other companies will start to do it as well.