The pressure on WWE to cancel or relocate the Crown Jewel PPV event has been mounting exponentially over the past week, with one of the most often cited reasons why WWE would not cancel the show being the huge sums of money that they stand to make.
Wall Street analyst Eric Handler, who is listed on WWE’s corporate website as a stock analyst, is cited by Deadline as saying that WWE may only actually be making a relatively smaller amount of money than originally believed.
“Handler estimates a decision to delay or cancel the wrestling circuit’s November 2 “Crown Jewel” event in Saudi Arabia, or move it out of the country, could cause a $2 million-$3 million hit to fourth-quarter cash flow.”
In fact Handler notes that at this point in time if WWE were to walk away from the reported 10-year deal with Saudi Arabia all together they would stand to take a $12 million – $16 million hit in the next quarter. A substantial amount of money of course, but no where close to the figures that have been thrown around in recent days.
By far the largest source of income to the WWE are their TV rights fees deals which have only recently been announced. One has to wonder, if this is correct, is the quick payday from Saudi Arabia worth risking the terrible PR being received which may jeopardise TV and advertising deals in the long-term.