Vince McMahon Net Worth Down With New WWE Contract

The net worth of WWE Chairman Vince McMahon has dipped after WWE Network is moving to NBC Universal’s Peacock and the WWE stock has slumped on the Monday.

 


 

Vince McMahon would be concerned

Within the first 10 minutes of the regular stock-trading day, WWE shares went down by about 3%. WWE will be paid $200 million per year, but this was not enough for investors, and with the dip McMahon will see his net worth drop below $1.7 billion.

The U.S. stock markets opened at 9:30 a.m. ET. on Monday. The news about WWE Network moving to Peacock broke earlier this morning and it is likely that there might be some effects throughout the day.

Shares in WWE closed the normal trading day that is Friday at $55.52 per share.It is an increase of nearly 6% from Thursday. In after-hours trading, it went up another 13 cents. The company’s market cap was $4.32 billion.

The stock had been keeping up with $100 per share in Spring 2019. The companies that relying on the live-event revenue have been hit hard due to the COVID-19 pandemic.

It has created some serious financial and operating challenges for the world’s leading professional wrestling (“sports entertainment,” company.

The multiyear deal will see the WWE Network programming becoming a part of Peacock’s “Premium” tier, which includes ads and costs $4.99 per month.

It will also be part of Peacock’s Premium Plus tier, which costs $9.99 and is commercial-free.

ALSO READ: Triple H reveals his status as an in-ring competitor in WWE

Membership will include all pay-per-view events including  WWE’s flagship show, WrestleMania and the first pay-per-view on the platform, Fastlane will air on March 21. It is a good deal for wrestling fans as WWE Network had cost $9.99 itself anyway.

Barry Russell
Barry Russell
A dedicated pro wrestling follower for more than a decade

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