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WWE releases Cain Velasquez

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On the latest edition of Wrestling Observer Radio, Dave Meltzer spoke about WWE releasing Cain Velasquez as part of their recent budget cuts.

“It was a multi-year deal, and just like everybody else, they signed him to a giant deal, and now that they’re cutting back, one of the things in those deals is that they got the right to cut people. So people who thought that they signed multi-year contracts for high dollar figures, this is how it goes.”

Velasquez debuted in WWE last October on the premiere episode of SmackDown on Fox. Kofi Kingston dropped the WWE championship to Brock Lesnar on that night so that Velasquez and Lesnar could work a championship match in Saudi Arabia at Crown Jewel 2019.

Given that Velasquez defeated Lesnar in UFC close to a decade ago, their pro wrestling match in Saudi Arabia was essentially a way for Brock to get his win back. Their bout at Crown Jewel turned out to be a dud. Cain then worked a match at a house show in Mexico City in November, and that’s the last time he wrestled in WWE.

Velasquez was under the impression that he would be involved in the 2020 Royal Rumble match, but it didn’t happen. The last time we heard about Velasquez was in early March when he was spotted at WWE headquarters with Ronda Rousey.

WWE has been cutting their budget and releasing talent due to the coronavirus pandemic, and Cain Velasquez is now the latest superstar to be released.