The WWE’s End of an Era and More Wrestling News

The WWE has spent decades working out of Titan Towers.  The memories they must have their…Screwing talent out of living wages, hiding sexual assault allegations, and running people out of business all for Vince’s own ego…The memories.

My cynicism aside, the Titan Towers are wrestling history brought to life.  The most famous room in the building, the legendary WWE Weight Room, has been used in every thing from photo shoots to video packages.

Hell, you even saw other promotions, like Chikara use the building in footage during the 2012 Where in the World is Archibald Peck? series.

 

 

Hell, even TNA shot footage in 2006-2007 when the James Gang/ Voodoo Kin Mafia were calling out DX and the WWE.  Granted it was far more aggressive in nature than Chikara’s tongue-in-cheek use of the building, as TNA (now IMPACT) was using them to try and get exposure.

 

The new building is still in Stamford and is said to be substantially bigger than the old one.   The WWE released a press release about the move, saying;

 

STAMFORD, Conn.–(BUSINESS WIRE)– WWE (NYSE:WWE) today announced that the company will move its global headquarters to a new office complex at 677 Washington Boulevard in Stamford, Connecticut. This move will allow the company to bring together its operations, including its production studios and corporate offices at its new site.

“One of the most important elements necessary to execute WWE’s long-term growth strategy is world-class talent collaborating seamlessly to create compelling content. Our workplace initiative will be the foundation to meet these objectives and underpins our ability to deliver long-term value,” said George Barrios, WWE Co-President.

The new headquarters will provide the company with work space suited to its growing and evolving workforce. The site in Stamford’s central business district provides greater access from various means of transportation, floor plans which are well-suited to producing video content and greater flexibility in workplace design. The Company anticipates that it will move to the new headquarters in early 2021.

WWE will lease the space for an initial term of approximately 16.5 years commencing no earlier than July 1, 2019, with five five-year renewal options thereafter. The lease will be accounted for as a finance lease, with the creation of a lease obligation (equal to the present value of future lease payments, which would result in the recognition of interest expense over time) and a right-of-use lease asset (equal to the lease obligation less tenant incentives, which is depreciated on a straight-line basis through depreciation expense). Accordingly, the accounting for the lease agreement is not expected to have a material impact on Adjusted OIBDA. Depreciation expense associated with the right-of-use asset will be reflected in operating income. The Company’s capital expenditure guidance reflects this initiative. That guidance estimated capital expenditures of approximately $70 million to $90 million for 2019 with continued spending in 2020 above the historic range of approximately 4% to 7% of revenue. Additionally, the company expects to sell its owned and operated corporate facility at 1241 East Main Street, exit its leased spaces at 1266 East Main Street, and will evaluate options for its production studio facilities at 88 and 120 Hamilton Avenue based on strategic, operating and financial considerations.

Additional information is available on the Company’s website, corporate.wwe.com/investors.

In Other News…

It was announced yesterday that Low Ki would be returning to IMPACT Wrestling as part of the United We Stand event on April 4th, for the WrestleMania weekend-show.  He’ll be returning to face LAX in a tag team match, bringing in MLW’s Ricky Martinez as his partner.  Low Ki even said on the weekly conference call that Johnny Impact should essentially look over his shoulders, as he’s “never that far away”.

Low Ki also cut a pretty hard take on AEW and wrestlers who end up there.  Nick Hausman of WrestlingINC quoted Low Ki as saying;

To me it’s an opportunity that hasn’t been available for a lot of people.  The only problem is: now you’re finding out who the whores are…. Everyone’s going after money. A lot of these guys don’t have any experience to being with, so they wouldn’t normally find the availability of this level of financing. So, of course they are going to go there.

In a bad segue, All Elite Wreslting has announced that Allie/Cherry Bomb has signed with the promotion.  The announcement came in the latest episode of the YouTube series, where she’s quoted as saying;

I really want to make my mark in AEW. Even though I’ve had those opportunities, now, I really want to show people what I can do. I don’t know if I’ve had that chance before.  Getting signed to AEW….I was super surprised. I’m not gonna lie, I hung up the phone, I started crying. I really wanted to be here and I didn’t know if it was possible. It’s a nice alternative to what’s already out there. It’s an opportunity for the women to show what we can do without any chains around our ankles.

 

Quick HitsIMPACT Wrestling has announced that both days for their Windsor Show have officially sold out.  The Observer claims the long rumored Rey Mysterio/Cien Almas ‘mask vs. hair’ match just fell by the wayside, and was scrapped.   The Observer also claims that Garza Jr. and Shane Strickland are scheduled to start with the WWE Performance Center after WrestleMania on April 9th.  DAZN is increasing their monthly price plan from $9.99 to $19.99 to combat those who sign up for just one show, and cancel it; while implementing a $99.99 yearly subscription for longtime fans; which half the cost for the year.  El Hijo del Fantasma (King Cuerno), has confirmed that he’s done with AAA, a sign that he may be free to sign an exclusive deal elsewhere.