Velasquez was part of the budget cuts, which is the reason as to why the company released the former UFC Heavyweight Champion. WWE has cut other talent due to this as they make adjustments to their budget as a result of the impact of the coronavirus.
It was known that Velasquez had signed a multi-year deal with WWE but no information as to how many years the contract listed was reported.
Sean Ross Sapp of Fightful Select reports “there are other names that have been cut that WWE didn’t publicly announce. “
Per the report, those who they’ve spoken to who currently train at the WWE Performance Center in Orlando, Florida said Velasquez was very nice and respectful when he was around. Also, his deal was scheduled to go into the fall of 2022.
The release of the former UFC star caught some people off guard while others weren’t surprised with the move. He hasn’t been seen training in Orlando in a long time nor seen on WWE television.
Velasquez lost to WWE Champion Brock Lesnar at Crown Jewel in Saudi Arabia late last year in his promotional in-ring debut. He then worked a tag team match at a live event on November 30th at the Arena Ciudad de Mexico.