WWE Rumors: Real Reason For Co-Presidents’ Shocking Exit From Company
The WWE hierarchy has undergone some changes recently following the departures of co-presidents George Barrios and Michelle Williams. While the shake-up has been the source of much speculation lately, Dave Meltzer of the Wrestling Observer Newsletter has revealed more information about the reason for the pair’s departure, citing a difference in opinion with Vince McMahon as the triggering factor.
As quoted by Cultaholic, the former executives wanted to ensure that the company maximized profits and increased its share price in 2020. McMahon, meanwhile, wants to spend the available money on monopolizing the wrestling industry and keeping WWE talent in the company. Since All Elite Wrestling burst onto the scene, he has been resistant to letting superstars leave and join the competition.
“McMahon was looking at the new money from these huge domestic price increases to increase profits, but also to heavily invest, notably looking at spending big money to sign up, keep and stockpile talent, making sure marketable talent didn’t leave, create new regional offshoots to attempt to dominate the grassroots aspect of the market as had started to happen in the U.K. market, and attempt to regain the monopoly of the business he seemingly had that has started to slip away with the increases in worldwide popularity of different groups, notably AEW and New Japan Pro Wrestling.”
Proud to be making history in Australia with WWE Super Show-Down on Saturday, Oct. 6, at the iconic @MCG. pic.twitter.com/narLS8QuOY
— Vince McMahon (@VinceMcMahon) June 16, 2018
WWE has been criticized for its stranglehold on the wrestling industry in recent years. For example, while NXT UK is generally a well received product among wrestling fans, some pundits believe that the brand was established because WWE aims to take control of the British wrestling scene.
As The Inquisitr previously reported, the company has also made efforts to acquire Pro Wrestling NOAH, suggesting that they have plans to launch another NXT brand in Japan to compete against NJPW and other successful promotions in the Far East.
Citing the Wrestling Observer Newsletter, EWrestling also documented rumors of WWE’s intention to expand the NXT universe in Canada and Australia as well. However, even if the company doesn’t launch new brands there down the line, they are reportedly keen on signing the best talent available in both countries.
McMahon’s monopolization of the wrestling industry dates all the way back to the 1980s. Back then, he effectively killed the territory system by acquiring every available company and consolidating them into his WWE empire. He doesn’t want the competition interfering with his business interests, and AEW has the potential to cause problems for WWE.
