Multiple WWE wrestlers have accepted pay cuts following approaches from the company, with Bryan Alvarez confirming the process is ongoing and will continue in the weeks ahead.
Alvarez reported on Wrestling Observer Radio that several unnamed talents agreed to renegotiate their deals downward, while The New Day’s Kofi Kingston and Xavier Woods declined and subsequently requested their releases.
“I’ve been told there were several people who were asked to take pay cuts and they took them. I don’t know how many. I don’t know who. Obviously, the New Day was asked, and they did not want to renegotiate, and so they got their release. Apparently, there were some others who did end up renegotiating, and probably as time goes on, there will be more of these. In fact, there definitely will be,” Alvarez said.
Dave Meltzer provided additional context on Wrestling Observer Radio, explaining that the wrestlers being targeted are former top-level performers who are no longer being booked at the same level, and that at least one accepted a significant cut despite having a potentially lucrative AEW alternative available.
“I know one guy in this situation, he could go to AEW and he could make a lot of money in AEW, but he did take a pretty big pay cut to stay. The reason you would be asked to renegotiate is because the contract you signed was when they perceived you as being far more valuable than they perceive you as being now. In the case of the person, it’s someone who would fit into that category, and the reason was not that he’s not good or not that he’s not great, but that they creatively didn’t take advantage of what they had, I would say is the best way of putting it. But he accepted it, he didn’t take the risk or whatever it is of going elsewhere. It’s still a lot of money, you could say that,” Meltzer said.
Sean Ross Sapp of Fightful also confirmed that several wrestlers were approached about pay cuts, while Mike Johnson of PWInsider reported that a prominently promoted wrestler was asked to accept a 50 percent pay cut and allegedly agreed to the terms.
The pay restructuring comes as WWE and TKO have repeatedly reported record profits, while executive compensation has risen dramatically. According to Brandon Thurston of Wrestlenomics, TKO CEO Ari Emanuel’s compensation rose 272 percent from $18 million to $67 million, TKO President Mark Shapiro’s increased 33 percent from $32 million to $43 million, and WWE President Nick Khan’s jumped 304 percent from $6 million to $24 million.
