March 3, 2008 Observer Newsletter: WWE gives huge payday to Floyd Mayweather, SmackDown to MyNetworkTV
It was a huge week for World Wrestling Entertainment, as after being ignored for a week by the media, the announcement that the company was paying Floyd Mayweather Jr. $20 million for his Wrestlemania match against Big Show made it the talk of the media.
On the surface, the first reaction is to scoff at the number, particularly since during the week boxing people had listed the figure at $5 million and at least one person involved directly had been told the figure was $1 million to $2 million plus a significant PPV percentage. However, as a publicly traded company, when Shane McMahon, a leading executive gave a money figure, I believe they can’t be like the wrestling business used to be in the past when figures like this were often, if not always, exaggerated. Most long-time fans just accepted it as the usual fake numbers they’re used to hearing, but those inside the company insist the number is real. The only reason to believe it, because on the surface it makes no economic sense, is that I don’t think the company is allowed to publicly lie about money figures.
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Dave Meltzer is the founder and lead writer on the Wrestling Observer Newsletter, the weekly constant when it comes to news and reviews in pro wrestling and mixed martial arts for more than 40 years. Dave also co-hosts Wrestling Observer Radio with Bryan Alvarez and had had bylines for The National, Yahoo Sports, MMA Fighting and others.