WWE: WWE to Recieve $1.8 Million From Puerto Rico for Backlash 2023, NXT Europe Update, Nick Khan

WWE Reportedly Set to Recieve $1.8 Million in Subsidies to Hold Backlash 2023 in Puerto Rico

As noted before, WWE announced last month that this year’s Backlash event will be taking place in San Juan, Puerto Rico and will be featuring Bad Bunny as the official host.

Wrestlenomics’ Brandon Thurston reported that WWE will be receiving around $1.8 million in subsidies for holding this year’s Backlash event in Puerto Rico. Thurston stated that this figure was given to him in a recent conversation with Mariela Vallines, executive director of the Puerto Rico Conventions District Authority.

In regards to breakdowns, Thurston reported that WWE will receive $1.5 million from the Puerto Rico Convention District Authority and the Puerto Rico Tourism Company for the event itself and an additional $300,000 for the use of the Coliseo de Puerto Rico José Miguel Agrelot stadium for the event’s venue.

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NXT Europe Launch Plans Update

As noted before, WWE has been working on plans to launch a new NXT brand called NXT Europe at some point this year. This upcoming new brand is currently planned to be the official replacement for WWE’s former NXT UK brand.

NXT head booker Shawn Michaels held a media scrum this past Thursday to promote Saturday’s NXT Stand & Deliver 2023 event in Los Angles, California. One of the topics discussed included Michaels providing an update on the status of WWE’s launch plans for their upcoming new NXT Europe brand.

“As far as I know, no plans have changed. It’s my understanding that everything is on course. To be honest with you, I never know what I’m supposed to say about that stuff and what I’m not supposed to say. I do know that it’s still on course and we’re putting, from a creative standpoint, getting people on board that we think will help be able to write and produce that show and things of that nature. We have, in our minds, put down on paper talent that can benefit from it and also new and younger talent that we have at NXT where we say, ‘they might not be live TV ready, but these would be great prospects to do from a NXT Europe standpoint.’ Then, on our own, I’ve done research and have people look into some talent that live in the UK and Europe and look at who we feel might be the best to reach out to when the time comes that we get asked to do that.”

Transcript h/t: Fightful.com

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Nick Khan Comments on WWE Sale Talks, WWE’s Price Tag, Vince McMahon, & Stephanie McMahon

A recent episode of CNBC’s Closing Bell Overtime show had WWE CEO Nick Khan as the guest. One of the topics discussed included Khan’s thoughts on the response from bidders over a potential sale of WWE.

“I like the direct question on that (where is WWE in the bidding process for a potential sale). Unfortunately, I can’t answer the, ‘Who has been bidding?’ But I can tell you it’s been quite a robust response to WWE, a product that’s been built for over the past 40 years. I think the fan base, the audience that goes with it in over 180 countries, seems to be quite appealing to potential bidders.

I don’t wanna comment on how many or how often or who’s in or who’s not in but, we’re quite pleased with what the market place has told us.”

On the topic of WWE’s current asking price of $9 billion for a sale of their company, Khan revealed that WWE is currently hopeful of being able to increase the price tag to $18 billion.

“Listen, our hope is that the price tag is 18 billion dollars. But, we’ll see. We’ll see if there’s a deal to be finalized. We’ll see if the economics are as shareholder friendly as they can be and then we’d go down that path but we’re not there yet.”

Khan also gave his thoughts on if WWE Executive Chairman Vince McMahon has become involved again in WWE’s creative process. Khan also praised Paul “Triple H” Levesque for his work since taking over as Head of Creative.

” ‘No’ is the answer (Vince McMahon has not been getting more involved in the creative process). Are you gonna be there this weekend at WrestleMania or are you passing on this one? (Khan asked the show host)… Vince has not interfered with creative. He certainly has thoughts, again, that we all try to tap in to pretty often but Triple H, real name, Paul Levesque, is our Head of Creative, he remains our Head of Creative and he’s done a phenomenal job along with our creative team. If you look at the ratings being up across the board at a time when basically, cable and network ratings are down across the board, we’re pleased with what the product is saying to the consumer and what the consumer is saying back to us.”

Khan also gave his thoughts on if former WWE co-CEO Stephanie McMahon would make a potential return to the company in the future.

“You know, do keep in mind, Stephanie (McMahon) was on a leave of absence when we called her. It was Vince (McMahon) and I who called her together to ask her to come back from that leave of absence to fill in at the time as the Interim Chairperson. She then became the co-CEO as you just articulated and the Chairperson of the Board. She did phenomenal work across the board and when Vince came back, I think she went back to what she was thinking of doing on the leave of absence. She stepped down, she and I remain in touch. She seems to be in a great place… It’s a question for her (if she’d want to return to the company). We’d certainly always love to have her as a part of WWE but the time would have to be right for her and I’m not sure she’s there yet.”

Transcript h/t: PostWrestling.com