Ted DiBiase Sr. Addresses His Son’s WWE Departure

UPDATE x 3: Wrestling legend Ted DiBiase Sr. posted a new blog at MillionDollarMan.com explaining why his son has decided to leave WWE:

“As many of you know, my son, Ted Jr. has decided not to re-sign with the WWE. His decision is not based on dissatisfaction with the WWE, but a decision based on not wanting to spend so much of his life away from his family. I applaud that decision. As much as I loved the wrestling business, being away from my family and the temptations that come along with it, nearly destroyed me and my family. I never wanted my sons to be in the business for that very reason. But I knew that I had to let them find out for themselves. The birth of Ted’s first son, did just that. Yes, I still love wrestling and so does Ted Jr. But, “Everything has a price!” My son learned more quickly than I did, that the price of fame is often far greater than the rewards!!”

UPDATE x 2: After announcing his departure from WWE this week, Ted DiBiase will be working for an e-commerce website that targets college students.

According to Mississippi Business Journal, the son of WWE Hall of Famer “The Million Dollar Man” Ted DiBiase has accepted an executive position with CollegeGarageSale.com, a subsidiary of Jackson, Missouri-based BFAC, LLC.

“I loved my career in the WWE and I will forever be thankful for the opportunity to work in that industry,” DiBiase said in a statement to Mississippi Business Journal. “Leaving a job you love is not easy, but I believe so strongly in the future of CollegeGarageSale.com that I knew it was time to change my focus.”

The website allows people to purchase and sell items college students would use.

“Working with Teddy over the last year on a number of projects I can say we are truly blessed to have him on our team,” said BFAC CEO Brad McMullan in a released statement.

UPDATE: We reported earlier this morning that WWE Superstar Ted DiBiase Jr. uploaded a new video to his official YouTube channel last night where he explains that he is going to let his current contract with WWE expire. Basically, DiBiase is quitting the company. We’re told that he informed WWE management of his plans to depart the company last week. There is no word on when DiBiase’s current WWE contract expires but that is the reason there has been no announcement via WWE.com ….. yet. We know his contract expires very soon but aren’t sure exactly which day as of this writing. You can expect a WWE.com statement on that day.

It should be noted that DiBiase Jr. suffered an injury to his finger at the 12/27 WWE live event in Chicago, Illinois. As a result, WWE agent/producer Jamie Noble ended up stepping in for DiBiase on the SmackDown live events to take on Fandango (Johnny Curtis). Noble attends all TV tapings and house shows in a management type role.

Also, we reported way back on December 13, 2012 that DiBiase was unhappy with his position in the company. Our original report stated the following:

Ted DiBiase has been sending out feelers to Hollywood to see if he can get acting work. DiBiase, who is reportedly disgruntled and taking a “wait and see” stance in regard to his WWE future, is said to be disinterested in Los Angeles which will not help his acting chances.

Numerous other mid-card talents are just as disgruntled and are also thinking about leaving the company.

With that being said, the release news today should come as no surprise to you guys. He’s been unhappy for over a year now and has vented his frustrations to WWE management on numerous occasions. He’s pitched ideas only to be shot down time and time again. With his contract expiring shortly, this was his way of getting out without burning any bridges.

We can also confirm that at least five other mid-card talents have been thinking about doing the same thing DiBiase did today. Among those talents include Zack Ryder, JTG and Santino Marella. Two WWE Divas are also considering leaving the company. By no means does this mean they WILL be quitting but all are currently frustrated and the thought has definitely crossed their minds. In the meantime, they’ll continue to collect paychecks while rarely being used.

Stay tuned as we hear more.

ORIGINAL: Ted DiBiase posted the following on his YouTube.com page today:

100% DIRECT LINK (*PICS*): Ted DiBiase Jr’s Real-Life Wedding! **ALL NEW**