Yeah, i didn't know the dude came from the NCAA to run that shit. Them dudes run in very small circles. Vince pretty much shut himself out of bigger sports and will be working with carnies forever
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The Vince McMahon/XFL Bankruptcy Story has come out - Yes, he somehow messed up WAY more than the first time
- Thread starter DMczaf
- Start date
OP
OP
Like Meltzer said in his podcast, this really reveals who Vince is.
This is the equivalent of screwing over the mob just because it financially benefits you in the short term
Oliver Luck should have known what he was like, though I guess he just assumed that he was too important to get fucked over and that Vince would just fuck over the lower-ranked people instead.
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that's why I used mob lol
he fucked over old money.
this is going to get fun
I bet Luck's thinking, was being a big fish in a little pond instead of a little fish in a big pond.
I know Sears is a joke now, but they certainly could've rebounded a bit with more competent leadership. How was that guy allowed to lead them for so long.
These two along with our president really show that a lot of people like trusting people who don't have their best interests in mind.
It's at least more freedom than Vince would ever allow. But, yeah, you right.
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it is!!
best part ? He said XFL was completely separate from WWE during an earning call.
guess who Vince loaned the money to XFL as?
WWE!
It's going to get FUN
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While the level of talent was a mixed bag, the rules changes were almost all positive, and he made a decision to give the games away essentially for free to be on channels like ABC, FOX, ESPN (ie, big boys people watch), instead of making money by having the games on channels that no one watches (like Bein Sports, CBS Sports, etc- what the AAF did), with the idea of losing money for a few years and getting either a streaming or TV deal worth real money. COVID throws a giant monkey wrench into this- we have no idea what the media landscape is going to look like in 3 months, much less 3 years now, and he realized that it was unlikely his plan was going to work, so he pulled the plug as early as possible.
Vince is 75 years old, doesn't sleep, and has decades of steroid abuse on his body. I don't think that he would even think to try something like this again even if he came out looking like a saint in all this.
For over a decade, they have been able to get away with lying about their attendance numbers to investors by stating that attendance numbers are part of the "entertainment portion" of their business. Investors don't care, they just care about their dividends and profits.
The move to shave the payroll last week in an effort to protect their profit margin was probably a way to placate shareholders about the XFL boondoggle. On top of WWE being a shareholder in XFL, Vince turned down a reported $50 million to sell the XFL rights to Charlie Ebersol, son of Dick Ebersol who was partners with Vince in the original season of XFL.
Also, Vince and family own an overwhelming majority of the shares in WWE, so it really does not matter because they control the Board. Vince's shares gives him 83% of the Board's voting power.
There's an earnings call tomorrow that Meltzer thinks could be interesting. It's normally held in the morning, but is mysteriously set for the afternoon after trading ends.
Also fun to point out that Vince fired WWE's two co-presidents earlier this year. These were two long time executives that were at the helm of the most stable and profitable time in the company's history.
Vince's home turf (WWE moved from NY to Connecticut a long time ago). Courts are often more favourable, it's like boxers and home town advantage lol
Not only that, they add time onto wrestlers contracts if they received an injury or try to quit. They're a trash company.
Though I think AEW fans running into the thread to promote their favourite carny promotion is pretty blurgh. Just because they aren't absolute trash like WWE doesn't mean they aren't carny as fuck. They're still running shows during a fucking pandemic, putting their workers at risk just to tape shows in empty arenas.
Out 44 million while wwe is still set to make record breaking profits this year even with a pandemic happening. Still fired 20 on screen talent with who knows how many were laid off behind the camera.
Fuck Vince McMahon
Fuck Vince McMahon
*Waves to any Observer subscribers*
There was that period with all the kneeling controversy. Vince saw an opportunity to grab the angry NFL fans, and explicitly stated it wouldn't happen in the XFL.
But yeah, people didn't care that much.
There was that period with all the kneeling controversy. Vince saw an opportunity to grab the angry NFL fans, and explicitly stated it wouldn't happen in the XFL.
But yeah, people didn't care that much.
Add it to the list.
Fuck Vince. Really wish people would stop giving WWE ratings and/or money especially when there's far superior options for wrestling out there.
Fuck Vince. Really wish people would stop giving WWE ratings and/or money especially when there's far superior options for wrestling out there.
Not really a swerve, him not doing it would have been the swerve.
I've said it before.
I'll say it again.
Support a wrestling promotion made by someone that gives a shit.
and the guy who bankrolls AEW also is a Trump donor
both billionaire republicans
Normally in bankruptcy unless the things are explicitly said differently, biggest debtors go first. Vince made himself the biggest debtor to be the first one to get pickings.
The guy who owns AEW has actually stated that he no longer supports Trump as of a couple of years ago.
As recently as October, Shad Khan was celebrating Trump's handling of the economy.
He just said he supports Trump on the economy a few months ago.
That's all Vince has ever cared about. It's why he restarted the XFL in the first place.
Vince's dream has always been to be perceived as more than just a wrestling carny owner. He wants to be seen as a legitimate and successful entertainment and sports mogul. Problem is, Vince is the biggest carny of them all.
I've said it before.
I'll say it again.
Support a wrestling promotion made by someone that gives a shit.
MAGA/Republican Cody
Pro Hogan Young Bucks
Trump Jr. on Jericho Podcast
Shitbag Hager
Stop trying to make AEW some sort of holy wrestling company. They aren't.
Oliver Luck isn't some random small timer Vince fucked over, and he's pissed off a lot of powerful people this time. I'm not actually sure how much the lawsuit being in Connecticut is going to benefit him.
https://finance.yahoo.com/news/nfl-...n-economy-not-on-social-issues-194957687.html
It's hard to say if he's still an outright Trump supporter based on the article. Sounds like the rich being happy they're getting richer, but doesn't support Trump on his social policies. That part is what I was referring to when talking about Khan since he made statements against Trump back in 2017 when NFL players were kneeling and the horrible immigration issues.
I'm not trying to make AEW sound like they are run by saints, but Khan is far from being the shitstain Vince has been.
it's sad how some people just purposely ignore all these things and get defensive when these FACTS are even brought up
Screwed it up? That's fucking brilliant. 44 million is a lot of money, but could have been MUCH worse. You couldn't buy a hockey team for 44 million much less a whole league.
Vince did, at least, pay the players.
Vince did, at least, pay the players.
Doesn't absolve him of not paying everyone else
Setting up morally and questionably legal loopholes does not make you brilliant, it just makes you a swindler who will do anything it takes to make sure everything goes your way at the expense of everyone else.
Vince ain't going to see any investors for anything outside of the WWE ever again after this.
By this logic Donald Trump is brilliant for being a prolific con man and someone who constantly stiffs people on money owed to them.
Talent gap is massive. Most players are paid better and in a better position on an NFL practice squad. Game shape is hard to maintain so being out of the NFL for 2-3 seasons will destroy your game shape