Eric Bischoff explains why WWE is not being put for sale
Eric Bischoff discussed WWE's recent releases and dismissed rumors of it being a precursor to Vince McMahon selling the company.
On his After 83 Weeks show, Eric Bischoff explained why WWE making budget cuts should not be presumed as Vince McMahon wanting to sell the company.
The former SmackDown Executive Director believes that WWE's recent budget cuts don't mean they are trying to sell the company. Bischoff stated that publicly limited companies like WWE has to "make moves that make sense to make more money."
"If you're a publicly held company and you're an officer of the company - and you're the chairman of that company, guess what your number 1 job is when you get up every single morning? To make money for your shareholders. That is called a fiduciary responsibility. That's Vince's job - to make money for his shareholders. And guess what? If it looks like he's not paying attention to details, if it looks [like] he doesn't have the best interest of his investors in mind, if it looks like he has a bloated talent budget and it makes no sense to have 300 people under contract where in the last six weeks you've only used 78 of them. Maybe somebody said, 'Hey, Vince, I think we better take a (sic) lot at our roster because it doesn't look like we're managing it very well.'"
Bischoff hypothetically said that WWE releasing Superstars and becoming cost effective could be to buy something.
WWE's recent releases
WWE has seen a mass exodus of late. The company have released a number of Superstars over the last year, while also reducing the strength of their backroom staff as well as those working at WWE Headquarters.
Braun Strowman, Aleister Black, Ruby Riott, Murphy, Lana, and Santana Garrett were released just this past week. WWE had released a few other Superstars earlier this year.
Employees in WWE's production team, WWE Network and digital departments were also let go by the company last month.
What do you make of WWE's recent releases? Do you think Vince McMahon is posturing to sell the company? Let us know in the comment section below!
Please H/T After 83 Weeks and Sportskeeda if you use any of the above quotes.
Dear reader, could you take a quick 30-second survey to help us provide you with better content on SK Wrestling. Here's the link for it.