“There’s Gonna Be Jobs Lost” In WWE According To Dave Meltzer
With Vince McMahon back as Executive Chairman of WWE, the company has been described as “problematic” and job losses are expected.
Following his retirement in July 2022, the first week of 2023 saw the resurgence of Vince McMahon in WWE as he forced his way back onto the company’s Board of Directors through his role as majority shareholder.
Now business has picked up with Stephanie McMahon announcing her resignation as WWE Chairwoman and co-CEO with Vince McMahon being voted in as the company’s new Executive Chairman.
All of that news comes amid the backdrop of reports suggesting WWE is on the verge of being sold to the Saudi Arabia Public Investment Fund. Reports suggest that McMahon opened talks with the Saudi Arabians immediately after he left WWE in the summer of 2022.
Now speaking on Wrestling Observer Radio, Dave Meltzer has noted that perhaps Vince McMahon has assurances from broadcast partners that the company will still be on TV if it is sold but warns that job losses are very likely:
“WWE without the rights fees is not worth anything close to what they’re getting. But there’s no, maybe, Vince is sure, he’s got his connections there. Maybe he’s already talked to the people at Fox and at NBCU and they’ve assured him that he’s ok. I don’t see them cancelling him right now. It’s a very problematic company at this point. There’s gonna be jobs lost.”