In this latest round of outings, WWE has parted ways with Braun Strowman, Lana, Aleister Black, Buddy Murphy, Ruby Riott and Santana Garrett. There was speculation that recent budget cuts could lead to a sale of the company, although this does not appear to be the case.
Bischoff explained why he thinks WWE has given up so many talent recently, saying they are only making smart business decisions. Bischoff also doesn’t think the company is preparing for a sale.
“In many ways it’s pretty exciting to see the shuffleboard being mixed up right in front of your eyes,” Bischoff said. “The more I think about it, the more I am convinced that WWE is not for sale. I’m not saying this will never happen, no one knows for sure, I certainly don’t have a crystal ball and I’m not aware of any inside information. But I’m more and more convinced that what WWE is doing, Nick Khan is probably the catalyst for a lot of this, is making good business decisions.
“The stock has gone down and I thought it will be really tough for this company to get back to where they were, but I think WWE stock is hovering around $ 56-58 a share today. If I’m WWE, if I’m a board member or chairman, or just a shareholder, I’m sitting here wondering what they’re going to do to push this share price up. That should be everyone’s goal, I’m sure. It’s just me looking a million miles away, if I’m involved in some of the decisions trying to turn the stock price up, I’m looking at talent on my roster which is a big chunk of WWE spending. . “
Many former WWE stars have reappeared in AEW, the latest being Andrade El Idolo last Friday on Dynamite. Bischoff brought up the idea that WWE was paying more for his talents to keep them from going to AEW, but now that they’ve seen what AEW is, they’re less worried.
“We have 300 people on contract, maybe that’s too much,” Bischoff said. “Maybe there was a reason for this, maybe the emergence of AEW a few years ago. I don’t mean fear of the unknown, but awareness of the unknown. Not sure what AEW was going to mean, not sure what impact it would have on my business. I would agree that locking up some talents maybe paying them more for that talent and I might otherwise pay under the terms I am reviewing.
“But now we know what AEW is, that doesn’t denigrate it in any way, they’re doing really well. I’m proud for them but that’s what it is and I think they’ve probably gone well, we need to consolidate this business model, make some adjustments. I’m more convinced now than I was last week that what WWE is doing is aggressively managing their business model and that’s exciting man. I think when the dust settles we’ll see WWE’s share price return to its pre-COVID level, I think we’ll see a new touring model that makes more sense in the long run and I don’t don’t think WWE is going anywhere. At least in the near future.
Bischoff has noted in the past that AEW is not a true competition to WWE, and that WWE is on a different planet than AEW. Bischoff noted once again that AEW is not a contender for WWE and is not close.
“My opinion is [AEW] are not [competition] Said Bischoff. “They’re not even close. They’re not even in the same universe in many ways. You can’t really compare WWE to AEW. AEW has actually been around for 2 years, WWE has been around for 30 or 40 years or whatever. What I mean is you can’t really compare them and what AEW is doing now in my opinion just like MLW, IMPACT, ROH is they take advantage of huge audience that WWE created. There is enough interest in wrestling in general, largely because of WWE’s success over the decades, that companies like AEW or IMPACT or ROH or MLW [can come in]. I think more and more MLW is going to be a part of the conversation more than it has been in a while, but all of these companies take advantage of an audience but they don’t take anything away from WWE, they don’t. just don’t. .
“When AEW or any other company starts to take market share, like me, like WCW; now you have my attention. Until then, everyone shows up to the party and takes free chips. It doesn’t cost WWE anything. You can perhaps suggest that one of the reasons that Braun Strowman, for example, was able to negotiate such a large contract, was that Vince was afraid to go to AEW, of course we covered that. But I think now [WWE] is at the point where everyone is going, that’s cool for [AEW], it’s good for the business, everyone likes variety, it doesn’t hurt anyone and they don’t take anything away [WWE]. I’m interested to see what happens when people actually start to take market share, which they are not currently taking. It was my goal at the time [in WCW]. »
If you use any of the quotes in this article, please credit 83 weeks with ah / t to Wrestling Inc. for the transcript.