Report: Extent Of WWE's Financial Reserves Revealed
The company has deep pockets...
23 Superstars from the main roster and NXT were released by WWE on Wednesday including Heath Slater, Erick Rowan, Rusev, No Way Jose, and Sarah Logan. Nine producers were also furloughed while referee Mike Chioda was let go after 31 years in the company.
Criticism has been levelled at WWE because the company is estimated to be on course to make record profits in 2020, and is considered one of the few professional wrestling promotions who can come through the coronavirus pandemic largely unscathed because of their large financial reserves.
There was some debate during the week over the extent of WWE's financial reserves as some suggested they had $500 million in cash to draw upon while others believed this also included debt capacity and credit. Dave Meltzer has seemingly put the debate to bed as he revealed in the Wrestling Observer Newsletter that the company's cash reserve is broken down as $90.45 million in cash in hand, $160 million in short term investments that can be cashed in, and $250 million available in debt capacity.