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THQ: WWE is an unsecured creditor, Vince McMahon apparently “furious”

Uh oh, it looks like the Chairman and CEO of WWE, Vince McMahon, is in a bad mood again.

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Smurf11310d ago

Well, I don't think this is gonna end well for THQ because WWE's lawyers are gonna mess them up.

shadowraiden1310d ago

not sure about that the WWE aint what it used to so i doubt the lawyers they have will be any better then the administrators of THQ which have government backing.

THQ is safe and if WWE is a unsecured creditor they can do nothing to THQ as lawyers cant do anything if the contract signed is like that which clearly it has to have been signed.

360ICE1310d ago

THQ is anything but safe. They have about 150 million dollars in liabilities, and liquidating the company is not likely to bring about that sort of money. And I bet WWE are more than wealthy enough to benefit from having a great team of corporate lawyers.

Larry L1310d ago

is THQ the dev of WWE WrestleFest? i don't care about wwe games, bu I was really loking forward to the console version. It was supposed to release this week, but didn't..... Maybe they cancelled the release and just never announcd it.

Disappointed.

showtimefolks1309d ago (Edited 1309d ago )

wwe isn't what it use to be han? yes the attitude era is over but that's still a billion dollar company so i am sure they have better lawyers than those that THQ can afford now

first the day of reckoning studio now thq, all this is happening out in the open and its gonna get real ugly

sad thing is THQ has some very good games in development, but all the years of making licensed games have finally caught up to THQ and may i remind you of UDRAW?

its only a matter of time and very short time before a big publisher buys them and its gonna be the big 3 UBI,EA,or activision.

i want UBI and some other publishers to share

but i believe EA will get them just because they are the most active ones when it comes to buying studios.(its another thing that after buying them they turn to crap like MS did with Rare)

badkolo1309d ago

not sure about that either, wwe is huge now, a lot more powerful and influential then you realize.

knowyourstuff1309d ago

WWE is basically screwed, there would be no point in spending even more money on a team of lawyers to sue a company that has no money and is going through bankruptcy. All WWE would be able to prove is that it is owed money, it doesn't guarantee it will get paid as this is how it goes with bankruptcy.

+ Show (2) more repliesLast reply 1309d ago
Gamer19821310d ago

Meh why does Vince care? He doesn't even own the company anymore hes nothing but a figurehead now.

Jamzluminati1309d ago

Are you mentally retarded?

TGSI

NCAzrael1309d ago

Uh, I'm not entirely certain you know what you're talking about. Vincent Kennedy McMahon is still listed as the CEO and Chairman of WWE, Inc.

The_Infected1310d ago

Wow a billionaire wants his few million dollars?! Hell I'd be nice and say sorry for the troubled times you have so just keep it and have a great Xmas:)

SilentNegotiator1309d ago (Edited 1309d ago )

That's right, he/WWE doesn't employ thousands of people or anything; why should he be upset?

DERP.

pixelsword1309d ago (Edited 1309d ago )

I agree about that in that he already has enough money, but billionaires didn't become billionaires by giving away millions of dollars so he's probably in the habit of collecting his money in a timely manner, but was foolish by making THQ an unsecured creditor if they were on shaky ground in the first place. The best he can do is to hound the programmers into making games for him or wreck their names so they don't get work, and that's not profitable, so you'll probably see them making games for the WWE soon...

rainslacker1309d ago

I doubt he's furious in the sense of going off on a rampage or throwing a tantrum. His on air personality is just for show. He is quite a savvy businessman, and things like this would be something that comes up in business. That fury is probably more along the lines of having his lawyers and business managers looking at what they can do to recoup the losses, and salvage whatever they can from whatever deal they had with THQ. It's not uncommon in the business world.

TekoIie1309d ago (Edited 1309d ago )

@SilentNegotiator

Considering that Vince and his wife prioritised on making profits rather than the well-being of wrestlers proves that they would be "furious" over the loss of any amount of money.....

.... And they're conservative and rich which translates into "ME NEVER HAVE ENOUGH MONEY" in the US so I think they deserve to lose 45 million ;)

SilentNegotiator1309d ago

So businesses should be able to not pay their debts to "rich conservatives" because they have money?

nunley331309d ago

@silent negotiator. Well said but it's pointless trying to argue with low-information people. No matter what facts or reason you state, it goes completely over their heads. They go into deer in headlights mode and just turn to class warfare talking points. Any unsecured creditor would be upset, does it matter what amount of money they have?

Sony3601309d ago

Hard to feel sorry for greedy billionaires losing a small fraction of money, which would be huge to the rest of us.

TekoIie1309d ago (Edited 1309d ago )

@SilentNegotiator

"So businesses should be able to not pay their debts to "rich conservatives" because they have money?"

Lol whos ass you pull that out off? I dont see where I said that. If you read I said they DESERVE to lose the money. I never said that law should prevent them from getting their money back.

@Nunley33

"Well said but it's pointless trying to argue with low-information people. No matter what facts or reason you state, it goes completely over their heads."

Well isnt that interesting!

Heres some facts: Vinces wife has effectively used atleast $90 million running for senate... and losing...

Now did you also know that it is mandatory for WWE wrestlers to have health insurance but they have to pay for it themselves?

Do you see what I did there ^^. $90 million dollars and insurance for employees. Im pretty sure you can put 2 and 2 together there. They instead chose to use that money for personal gain instead so I dont think they'll mind losing another 45 million... I mean its less than 90 million right?

SilentNegotiator1305d ago (Edited 1305d ago )

Don't play stupid.

vvvvvvvvvvvvv
"they're conservative and rich which translates into "ME NEVER HAVE ENOUGH MONEY" in the US so I think they deserve to lose 45 million"
^^^^^^^^^^^^^

Rich conservatives don't deserve payment is EXACTLY what you said.

+ Show (6) more repliesLast reply 1305d ago
ATi_Elite1309d ago

Looks like:

THQ better make more Humble bundles

and WWE better bring back Stone Cold, The Rock, and Triple H to get that $45 million back!!!

pixelsword1309d ago (Edited 1309d ago )

@ Smurf1

That's not likely; a person who gives out an unsecured loan cannot get their money from the person they gave out money to until after people who gave them secured loans when a person or company files for bankruptcy. If the loanee has no money left over after the people who gave them secured loans get their money, the unsecured loaners are screwed.

MooseyXTC1309d ago

WWE can't mess up THQ, all their fights are scripted.

+ Show (3) more repliesLast reply 1305d ago
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Zha1tan1310d ago

you had your day vince and then you sold out wrestling big time.

sithsylar1309d ago

So true they wanted the kids viewers *shudders at pg era*....

kane_13711309d ago

they didn't want kid viewers, i dare you to go watch some classic wwf, WWf attitude era, or wwe up to like 2008 and check the crowd, pretty much the same, no differences, actually during babay face era there was hell lot more kids.

And the show always was PG, it stands for parental Guidance.

Check some of Attitude era tapings, it clearly says, TV-PG

anyhow, The "PG ERA" came about when vince's family actively entered the political races, they toned it down for senat not kids, kids have always been around.

Another reason they toned the shw down was Chris Benoit, his death brought about a new study that showed concussion caused by chair shots and poor handling of the situation leads to those kind of tragedies, at first wwe denied it, but than they gave up, they could get in trouble.
That is why any thing that can be too dangerous is out for now.

Deadpool6161310d ago

It's so easy to find a disgruntle picture of Vince McMahon. Almost too easy...

mynameisEvil1310d ago

Isn't EVERY pic of him a disgruntled pic?