COVID-19 took a tremendous toll on Vince McMahon as a businessman and saw many forced decisions that affected the lives of many.
One of the major turning points in WWE of the Coronavirus era came on Wednesday, April 15, 2020, when a number of superstars were released and a number of WWE producers were furloughed.
Vince McMahon, the businessman, also took a major hit when the XFL was forced to shut down and eventually file for bankruptcy.
In a new article by Kevin Seifert of ESPN, the downfall of the XFL is examined as well as the shared resources between WWE and the XFL which was the subject of a recent lawsuit filed by the Oklahoma Firefighters Pension and Retirement System.
The article reveals that prior to WrestleMania 36’s airing on April 4 & 5, WWE’s CEO was already planning the excessive layoffs in an effort to make up for an extended period of lower revenues.
“The XFL’s shared services agreement with the WWE also had raised eyebrows within the XFL offices, which were regularly interacting with WWE counterparts,” the article states. “In December 2019, the Oklahoma Firefighters Pension and Retirement System filed a shareholders lawsuit seeking information about the exact nature of the relationship between WWE and the XFL, and whether McMahon or other senior officers might have diminished the WWE by diverting some of its resources to the XFL. The suit was dropped this spring.
“The WWE managed to resume content production amid the pandemic, airing a fanless but well-received WrestleMania 36 on April 4-5. McMahon was already working on plans for a series of WWE layoffs, furloughs and other cost-cutting moves designed to stabilize the company for an extended period of lower revenues. They were announced April 15.”
To see a full list of names released back in April, click here.