Billy Corgan and the NWA have been in the news quite a bit lately, first because of the promotion’s new TV deals with The CW, and later because those deals were apparently put in jeopardy thanks to a cocaine spot on PPV.
Today, a new report from Haus of Wrestling paints a bleak picture of NWA’s current financial situation and says cuts are on the way:
“...the NWA is expected to make cuts to its roster and various production areas soon. One source we spoke with told us that Corgan will make cuts ‘at every corner.’ One example we were given on the production side is that the hair and make-up department’s budget will be cut roughly in half.
We are also told that this weekend’s NWA Powerrr tapings will primarily only have contracted talent appearing and what was described to us as ‘a bare-bones crew.’”
The report claims that talent cuts are expected to happen in early 2024:
“The January tapings have already been booked with primarily contracted talent. The talent cuts will likely occur following those tapings in early 2024, when Corgan expects to start contract negotiations. As we previously reported, several NWA talents’ contracts come up in June 2024. We were not given an idea of how many talents would be cut or not re-signed, but it was stressed that all contracted talent was under review and their benefits to the company were being weighed. Talent without contracts cannot be let go, so some of those working without formal deals will likely not be called regarding future bookings.”
Another NWA cost-cutting measure involves hotel rooms for the talent:
“...most NWA talent can no longer fly in the day before shows. By doing so, the NWA no longer has to pay extra hotel costs, which they have been footing the bill for up to now. The NWA has been paying for flights and hotels for talent, which is different than a standard WWE deal, which usually only covers flights. Paying for hotels has been considered an incentive for talent to work for the NWA to compensate for their lower pay compared to more prominent companies.”
Why are these cuts being made? The answer is pretty straightforward:
“We are told that the cuts are because Corgan has been funding everything out of pocket for the NWA for years. There has been ‘little to no sponsorship money coming in,’ and he has spent millions on Powerrr and the NWA reality series. If the promotion wants to keep operating at a level they are comfortable with, cuts will have to be made.”
Well then, it’s no wonder that Corgan recently admitted the best offer he could give CM Punk to come work in the NWA was a vegan sandwich and fun.
What’s your reaction to this report, Cagesiders?