Kemo
04-18-2023, 06:48 PM
:wwe5:
WWE is prepared to make cuts in the ballpark of $50 million at the very least, according to WWE CEO Nick Khan.
Last month, it was announced that Endeavor is to acquire WWE with the deal between the two sides expected to be finalized later this year.
Once the deal is finalized, Endeavor will start a new company consisting of WWE and UFC with an estimated net worth of $12.3 billion.
From the moment the Endeavor deal was announced, fears grew of the possibility of cuts being made to WWE's production and roster.
Endeavor President Mark Shapiro has previously said that 'synchronicity' between WWE and UFC will be a priority after the deal is finalized.
Speaking to Lightshed Live, Nick Khan gave a rough estimate of how big these expected cuts to WWE will be.
"If you look at what Endeavor was able to take out, cost-wise, from UFC in 2016 or shortly after that deal was done, we have the same expectation here. We think 50 (million) is a really conservative number. We have integration teams now, we’re going to get those in shape, I think we’ll have a better sense of it in a month or two. We’re going to be pretty aggressive with them to make sure that, for our shareholders and for our company, our organization is as lean and mean as possible, and we’re going to rely on the Endeavor flywheel to make up the rest.”
While Khan is prepared to make some pretty big cuts to WWE, he believes that the on-screen product should, for the most part, be off-limits.
The WWE CEO explained that creative and production teams will be protected from cutbacks, as they are considered the most vital part of WWE.
"The most important thing is to leave the product untouched. Untouched, meaning, if Triple H and Kevin Dunn want to evolve it, great, but in terms of cutbacks there, that’s not what we’re looking to do."
There has been no confirmation on when these cuts to WWE are expected to take place.
WWE is prepared to make cuts in the ballpark of $50 million at the very least, according to WWE CEO Nick Khan.
Last month, it was announced that Endeavor is to acquire WWE with the deal between the two sides expected to be finalized later this year.
Once the deal is finalized, Endeavor will start a new company consisting of WWE and UFC with an estimated net worth of $12.3 billion.
From the moment the Endeavor deal was announced, fears grew of the possibility of cuts being made to WWE's production and roster.
Endeavor President Mark Shapiro has previously said that 'synchronicity' between WWE and UFC will be a priority after the deal is finalized.
Speaking to Lightshed Live, Nick Khan gave a rough estimate of how big these expected cuts to WWE will be.
"If you look at what Endeavor was able to take out, cost-wise, from UFC in 2016 or shortly after that deal was done, we have the same expectation here. We think 50 (million) is a really conservative number. We have integration teams now, we’re going to get those in shape, I think we’ll have a better sense of it in a month or two. We’re going to be pretty aggressive with them to make sure that, for our shareholders and for our company, our organization is as lean and mean as possible, and we’re going to rely on the Endeavor flywheel to make up the rest.”
While Khan is prepared to make some pretty big cuts to WWE, he believes that the on-screen product should, for the most part, be off-limits.
The WWE CEO explained that creative and production teams will be protected from cutbacks, as they are considered the most vital part of WWE.
"The most important thing is to leave the product untouched. Untouched, meaning, if Triple H and Kevin Dunn want to evolve it, great, but in terms of cutbacks there, that’s not what we’re looking to do."
There has been no confirmation on when these cuts to WWE are expected to take place.