A joint statement from WWE and the New Day to formally announce Kofi Kingston and Xavier Woods’ departures was planned but ultimately never issued, according to Fightful Select, with the revelation coming as part of a broader financial restructuring that has sent shockwaves through the wrestling industry.
The only official acknowledgment from WWE of the duo’s exits has been their movement to the alumni section on WWE.com. Both Kingston and Woods released their own individual farewell statements, but no formal joint communication from the company ever arrived. A WWE source told Fightful that communications praising the duo were made privately and that a joint statement had been expected. The reason it was never issued publicly remains unknown. A separate WWE source, quoted by another outlet, expressed disgust that the company did not publicly acknowledge the New Day’s contributions.
As previously noted, The New Day’s departure sits within a broader financial restructuring that Fightful Select has detailed extensively. WWE was tasked with shedding millions of dollars in payroll over the past month, and the cuts were made in direct service of that goal. The timing drew immediate backlash across the industry, coinciding with disclosures of record-high TKO stock prices and dramatic increases in executive pay. Most people in the industry acknowledged releases as an accepted reality of WWE’s plans going forward, but asking talent to take seven-figure pay cuts was met with heavy criticism.
The manner in which deals were presented to talent has also raised serious concerns about how performers will negotiate with WWE going forward. Fightful’s Sean Ross Sapp was told that a number of wrestlers were approached during overseas dates about new deals, in some cases far earlier than expected, with some viewing this as a tactic to get talent to sign before their representation could fully review terms. On the day of the mass releases, WWE approached numerous talent and asked them to take pay cuts, with several given just two days to decide.
Kingston and Woods made their choice quickly, opting to leave rather than accept the reduced terms. Despite the pay cut offer, the duo still walked away from millions of dollars remaining on the table over the next four years of their deals. The circumstances echo those surrounding Killer Kross’s contract offer last year, with Kross claiming at the time he was given only one day to make his decision.
A related frustration centers on performers who recently signed new deals with WWE without engaging in negotiations with AEW or other companies, including Kingston, Woods, and Santos Escobar. With WWE now cutting them or reducing their pay, their leverage on the open market is effectively diminished. Several talent representatives told Fightful the approach was not even smart from a competitive standpoint, arguing that WWE should want AEW to spend more money on released talent rather than make them available at reduced market value.
No specific names were provided regarding who accepted pay cuts. The New Day situation became public simply because moving Kingston and Woods to the alumni section made their stories significantly easier to trace and confirm. A number of longtime veterans were also among those asked to take pay cuts, including some currently healing from injuries.
Fightful also confirmed that multiple names within AEW have internally pushed for the promotion to hire New Day when they become available.
This is just a snippet of the story. For complete details, please visit Fightful Select at Patreon.com/Fightful.
