WWE is in a bad place right now. If you need any evidence of that, just take a look at what happened over the last few days. Following the announcement of the new deal with NBC Universal, the company stock dropped over 40% overnight, and CEO Vince McMahon lost a staggering $350 million, bringing his days as a full-fledged billionaire to a close.
But just how much worse can it possibly get? Well according to a report from WrestleZone, in the press release that was sent out by Lemelson Capital, the investment firm that bought stake in the company a few days ago, WWE is set to lose anywhere between $45 and $52 million in the year 2014.
Among Lemelson’s issues, they have a problem with the way WWE has been explaining and promoting the Network to investors, and that the company stands to lose between $45 million and $52 million in 2014.
Monday morning, WWE and investors will participate in an emergency conference call to talk about these issues recently, and as WrestleZone’s Mark Madden was quick to point out, aside from the obvious financial questions, one subject that might be addressed is the condition of McMahon–which could be the nail in the coffin, finding out that the man that built the empire can’t coherently run the day-to-day operations anymore.
This call is a real test for McMahon. He’d better pass.
Is something wrong with McMahon? That may be the real story.
McMahon was supposed to feud with Triple H and Stephanie over control of the company. That was the planned angle leading to WrestleMania. Why was that angle pulled? Why is McMahon never featured on live TV anymore?
Backstage sources say McMahon has been very detached recently, including at WrestleMania. When has McMahon ever been described as “detached”? McMahon has reportedly been involved in odd verbal exchanges lately.