The WWE made a major announcement on Thursday that appears to have cost the organization a ton of money, at least in the short term. The morning after WWE announced a new television deal with NBCUNiversal, WWE stock plummeted nearly 50%.
According to Forbes, investors are extremely disappointed with the new TV deal, which will allow Monday Night Raw to continue airing on USA Network while Friday Night Smackdown airs on NBC-owned Syfy Network. WWE chairman Vince McMahon insists the deal can only mean positive things for the company’s earnings, but Wall Street experts aren’t buying it.
“To all my little Hulkamaniacs, say your prayers, take your vitamins and you will never go wrong,” Benchmark analyst Mike Hickey wrote on Friday morning while downgrading WWE’s rating from a buy to a hold and cutting its target price by nearly $10 per share. “The company’s valuation could take a heavy beating this morning, as the new domestic TV deal with NBCU likely disappointed investors over limited visibility and believability on the ultimate success of the network.”
The plummet of WWE stock has been so rapid in the past 24 hours that Forbes estimates McMahon has lost somewhere in the neighborhood of $344 million. While that number is constantly changing, that type of loss would cost McMahon his billionaire status for the time being.
Another concern for McMahon’s company has been the launch of WWE Network, which Forbes says will have to pick up a total of around $1.3 million global subscribers in order to offset the loss of WWE pay-per-view revenue. Thus far, there have been roughly 670,000 subscribers.
While we’re hardly financial experts, we feel we can safely speculate that McMahon and his people are not going to starve to death. We expect the WWE to bounce back.
Detroit Tigers pitcher Max Scherzer and Los Angeles Dodgers ace Clayton Kershaw took home the Cy Young Awards for their respective leagues on Thursday. Thanks to Vince McMahon, the best is yet to come.
After Scherzer and Kershaw were officially announced as winners, Major League Baseball’s official Twitter account sent out mock-ups of WWE-style championship belts with their names and achievements on them. McMahon caught wind of it and apparently like the idea, so he claims he is going to have the belts made and send them to Scherzer and Kershaw.
Vince McMahon may have the greatest walk of all time. I’m talking about in the history of the world. It is just full of cocky look-at-me, arms swinging, I’m rich and you hate me, I’m the boss and there’s nothing you can do to stop me awesomeness. You just can’t beat it.
So of course the WWE 2K14 videogame was going to capture McMahon’s power walk and put it into the game. The only problem is McMahon objects to their portrayal of his walk.
Is there a GIF that captures Alex Rodriguez more perfectly than this one? That’s A-Rod’s face superimposed onto the body of Vince McMahon, doing the WWE boss’ power walk into the ring.
Though he has always wanted to be liked and have that good guy persona, Rodriguez is disliked by most sports fans and makes a good comparison to the notorious WWE antagonist. From feuds with Jerry Lawler to Stone Cold Steve Austin and Bret Hart, few are more despised in the wrestling world than Mr. McMahon.
You know what else they have in common? Both have admitted to steroids use and have been caught up in steroids controversies. I could watch this GIF all day.
Chael Sonnen must have finally heard that WWE boss Vince McMahon once challenged UFC president Dana White to a fight, because he responded Tuesday with a proposal for McMahon.
In case you missed it, White revealed in a recent interview that McMahon wanted to fight him in the UFC or at a Wrestlemania event. White declined, saying that the 67-year-old McMahon is too old to be fighting.
Sonnen, who is 27-12 as an MMA fighter, seems to be game. He proposed a tag team fight between him and White against McMahon and WWE champ CM Punk.
In typical Sonnen fashion, the tweets came in a series of humorous, crap-talking blasts:
Dana White and Vince McMahon are two of the most recognizable faces in the fight industry. Both men share a similar story; they each took a struggling product and turned it into a multi-million dollar business. Many a drunken conversation among friends on the night of a UFC or WWE event has centered around which of the two would win in a fight — 67-year-old Vinny Mac or 43-year-old White.
But that would never happen, right? Maybe not.
During an interview with RDS, White revealed that a fight between him and McMahon would have already taken place if the WWE CEO had his way.
“Vince is too old, which he won’t think he is and he’ll go crazy (when he hears me telling people this),” White said. “He wanted to do that one time. Vince wanted to fight me. Swear to god. He called me up and said, ‘Let’s do it. We can either do it in the UFC or let’s do it at Wrestlemania.’ And I said, ‘You are crazy.’
“I’ve always said I respect Vince and I’ll say it again, I respect Vince very much. But Vince is too old to be fighting.”
Video of White’s comments can be seen around the 8:50 mark here. McMahon may be getting old, but he certainly has no shortage of energy and passion. Heck, he has even challenged an NBA owner to a fight a few years back. But he would have to be careful facing White, who comes from a boxing background.
I think the deciding factor here would be whether the fight took place at a UFC event or a WWE event like Wrestlemania. If it were a scripted fight in McMahon’s territory, we know what the outcome would be. If it were an actual MMA bout in the octagon, my money’s on White.
What’s up with wrestling screwing up NBA playoff dates? Three years ago, in like the best season ever for the Clippers, the Clips had just won Game 6 against the Suns to tie their series at 3-3. They were hot but had to wait like three days in between games because the WWE had an event — Judgment Day — held in Phoenix that weekend. So with the three full days off between games, the Suns won the decisive Game 7. This year it’s the same story: the WWE is booked for Monday Night Raw at the Pepsi Center in Denver on the 21st, the same day Game 4 is scheduled to occur between the Lakers and Nuggets. WWE master Vince McMahon used the screwup as an opportunity to rip the Nuggets:
“Even though the Denver Nuggets had a strong team this year and were projected to make the playoffs, obviously Nuggets and Pepsi Center owner Stan Kroenke did not have enough faith in his own team to hold the May 25 date for a potential playoff game.”
Ouch. I think they can forget about bringing the WWE to the Pepsi Center for any future events after that bomb. To make the Nuggets look even worse, contracts were sent to the WWE to finalize the deal as recently as April 15th. That’s pretty poor on Denver’s behalf. So how does McMahon plan to handle all this? He wants a steal cage match against Stan Kroenke to settle things:
Of course he’s making a spectacle of things — it’s the WWE. But I’ll give McMahon this much — he’s right.