The WWE announced Wednesday that amidst the current pandemic that is drastically effecting the sports world they will be undergoing budget cuts. Included in that, they will begin releasing superstars as well as staff members to save money that is being lost.
Among the staff members released:
Primo and Epico Colon
Mike and Maria Kanellis
Multiple staff members have also been released. Some names might sound familiar as they are former WWE superstars:
Shane Helms (The Hurricane)
Dave Finlay (Finlay)
The budget cuts that were announced on Wednesday have raised some concern that maybe the WWE is losing more money that they might want during the pandemic. Nobody ever wants to lose money, but at this point losing money is something that is inevitable. Some have jumped to the conclusion that this is the start of the downfall for WWE, especially since Vince McMahon has recently filed bankruptcy with the XFL. McMahon was prepared to lose $375 Million in the first three years of the league - That's if it went well. Numbers are yet to be released on what McMahon will lose after filing for bankruptcy and not even one full season with the league in its rebirth.
The releases leave Daniel Bryan as the only member of the NXT season one roster to still be employed by the WWE.
What does this mean for the wrestling world?
My guess is that the WWE will be just fine. This isn't the first time that they have randomly announced a bunch of names that will be releasing. Again, this comes as a direct result of the Covid-19 virus. The WWE has always been the number one company in the wrestling industry. These releases could very well have a positive impact on the smaller companies in the wrestling world, as there is a tremendous amount of talent now on the free agent market.
Gallows and Anderson could very well be the biggest names to come out of this as they've been linked to AEW for some time now. The WWE‘s recent release of The Revival could lead up to a huge boost to the AEW tag team division, Gallows and Anderson could very well put them over the top in the tag team wrestling world.
AEW isn't the only company that will end up possibly benefiting from this. TNA and ROH have a couple of former clients on that list as well. Although this move is meant to help the WWE, it could ultimately end up hurting them in more ways than one
Credit to hollywoodreporter.com for the featured image.