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Submitted by Smurf1 1148d ago | news

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. (Industry, PC, PS3, THQ, Xbox 360)

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Smurf1  +   1148d ago
Well, I don't think this is gonna end well for THQ because WWE's lawyers are gonna mess them up.
shadowraiden  +   1148d 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.
360ICE  +   1148d 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 L  +   1148d 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.

showtimefolks  +   1148d 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)
#1.1.3 (Edited 1148d ago ) | Agree(4) | Disagree(1) | Report
badkolo  +   1148d ago
not sure about that either, wwe is huge now, a lot more powerful and influential then you realize.
knowyourstuff  +   1148d 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.
Gamer1982  +   1148d ago
Meh why does Vince care? He doesn't even own the company anymore hes nothing but a figurehead now.
Jamzluminati  +   1148d ago
Are you mentally retarded?

NCAzrael  +   1148d 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_Infected  +   1148d 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:)
SilentNegotiator  +   1148d ago
That's right, he/WWE doesn't employ thousands of people or anything; why should he be upset?

#1.3.1 (Edited 1148d ago ) | Agree(1) | Disagree(6) | Report
pixelsword  +   1148d 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...
#1.3.2 (Edited 1148d ago ) | Agree(1) | Disagree(0) | Report
rainslacker  +   1148d 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.
TekoIie  +   1148d ago

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 ;)
#1.3.4 (Edited 1148d ago ) | Agree(3) | Disagree(1) | Report
SilentNegotiator  +   1148d ago
So businesses should be able to not pay their debts to "rich conservatives" because they have money?
nunley33  +   1147d 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?
Sony360  +   1147d ago
Hard to feel sorry for greedy billionaires losing a small fraction of money, which would be huge to the rest of us.
TekoIie  +   1147d ago

"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.


"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?
#1.3.8 (Edited 1147d ago ) | Agree(0) | Disagree(1) | Report
SilentNegotiator  +   1144d ago
Don't play stupid.

"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.
#1.3.9 (Edited 1144d ago ) | Agree(0) | Disagree(1) | Report
ATi_Elite  +   1148d 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!!!
pixelsword  +   1148d 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.
#1.5 (Edited 1148d ago ) | Agree(0) | Disagree(0) | Report | Reply
MooseyXTC  +   1147d ago
WWE can't mess up THQ, all their fights are scripted.
Monstar   1148d ago | Bad language | show | Replies(2)
Mathew9R   1148d ago | Spam
Zha1tan  +   1148d ago
you had your day vince and then you sold out wrestling big time.
sithsylar  +   1148d ago
So true they wanted the kids viewers *shudders at pg era*....
kane_1371  +   1147d 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.
Deadpool616  +   1148d ago
It's so easy to find a disgruntle picture of Vince McMahon. Almost too easy...

Related image(s)
mynameisEvil  +   1148d ago
Isn't EVERY pic of him a disgruntled pic?
Playstation4LyFe  +   1148d ago
Here come the wrestling bashers, have some respect.... STONE COLD SAYS SHUT YOUR DAYUM MOUTH U SUMBITCH
BanBrother  +   1148d ago
Only kids and teenagers agreed with your stupid, immature comment. It is amazing how many kids are on here. You just need to find a wrestling article to prove that.

While you are busy watching oiled up men caress each other in nothing but underpants, I'll be doing anything but that.
Playstation4LyFe  +   1148d ago
K, try to act all grown up cuz u dont watch wrestling.. u prolly watch dumb a** family guy er somethin, get a life and stop bashing people for watching wrestling. its classic.
Megaton  +   1148d ago
You can always rely on the person calling everyone else "kids" to be the most immature.
MidnightProwler  +   1148d ago
Kids on a video game website? That's unheard of! (/sarcasm)
rainslacker  +   1148d ago
That's not wrastling?

No Way  +   1148d ago
You do realize... that they do also have sexy, nice ass, big tit woman oiled up wrestling, sometimes, too, ay?
MacDonagh  +   1148d ago
Vince has every right to be aggrieved. Especially since he wasted a hundred million trying to get his wife into politics.
E2S  +   1148d ago
100 Million? was that both failed campaigns combined? Jesus.
#7.1 (Edited 1148d ago ) | Agree(16) | Disagree(0) | Report | Reply
Starbucks_Fan  +   1148d ago
WWE is a bad as NASCAR
NexGen  +   1148d ago
I think you just insulted more than half of America. I laughed pretty hard though lol.
KwietStorm  +   1148d ago
Only reason I disagree is if I was forced to choose, I'd always pick ring drama over left turn.
NexGen  +   1148d ago
But the endless left turns are real!
1Victor  +   1148d ago
you forgot 3 left make a right and there's no rights on wwe
DeadlyFire  +   1148d ago
Almost wanna just for joy and hear him say Your FIRED!! to THQ, but then again that puts WWE games in a very unknown place. I don't like them most of the time for their less than spectacular upgrades to WWE games, but 2013 they seem to have done an okay job.

Its likely that WWE is looking at a loss here and that likely means new agreements might not happen in THQ's future for more WWE games depending entirely on how well they do sell now I suspect.
SuperSonic266  +   1148d ago
I wouldn't do that, vince could send stone cold steve austin to every thq employees house and give there wife a stunner, then beat the living crap out of them with a steel CHAIR!!
KontryBoy706  +   1148d ago
nothing will be like WWF and WCW used to be back in the day...
tarbis  +   1148d ago
Indeed! Attitude era is the best not this shitty PG era.
ShadowKingx  +   1148d ago
You both are right here, you can WWE trying to go back to that era a little but still keep it PG. but as long as you have PG they will never get there.
AngelicIceDiamond  +   1148d ago
Yeah, everything now is (obviously) staged and at times uninteresting. Well, with the rise of Shield its getting a little interesting. People are saying its the "next NWO." I doubt it.

But how long will that last? I agree WWF and WCW set the bar that's yet to be reached.


Yeah you'll never see me do that again.
KontryBoy706  +   1148d ago
Remember the Ultimate Warrior's promos? WOW lol unforgettable
DeadlyFire  +   1147d ago
They need WWE/TNA head to head on TV. Only way Attitude era ever lives again.
Megaton  +   1148d ago
Yeah, I'd probably still be watching if it were as good as it was back then.
RuleofOne343  +   1148d ago

So they loan out money & to top it off they are hoping that POS game is successful talk about being delusional + stupid. Service them right.
StanSmith  +   1148d ago
Erm... WWE games have always been successful. Just not enough to save THQ.

Why do people assume that because it's wrestling and because you don't have any interest in it, that WWE games aren't successful?

It's like me saying Halo isn't successful because it doesn't appeal to me.
majiebeast  +   1148d ago
Orange Juice  +   1148d ago
Well, I guess our chances for an all stars 2 are completely in the toilet. Though hopefully the next game will be more progressive and less regressive with a new publisher and all.
StanSmith  +   1148d ago
All-Stars bombed so I don't think we'll see another anyway. It sold 1.16 million total across all six platforms that it was available for.

It's a shame because it's a really great arcade game. Really fun with friends, Pizza and a few beers.
claud3  +   1148d ago
wwe is screwed to, since they need a buyer for the contract
ShadowKingx  +   1148d ago
i don’t know why people are here bashing WWE, when WWE is the most watched show on any network. hey you know what yeah its fake, but so is every syfy movie and action movie out there, but you don’t see the wrestling fans bashing the movies you like. Its comes down to entertainment, its something we enjoy watching and like someone said if someone owed you 45 million dollars, i don’t think you would be sitting back saying oh thats ok we can make that up no problem, because in some cases these can shut a business down. i will say WWE is not what it used to be back like when it was in the attitude era. But as fan i am loyal i like the story lines they have. Just like people like the story lines in those fake movies you see all the time.

But i will also say WWE is way to big to even worry about this loss, but this might bring a halt to a WWE game for a little while.
#16 (Edited 1148d ago ) | Agree(12) | Disagree(7) | Report | Reply
E2S  +   1148d ago
Most watched on any network? Maybe in the old Attitude days. But today isn't it a fraction of the ratings they had at one point?
avengers1978  +   1148d ago
They have lost a little but they are still the most watch show on any network, Raw even beats out Monday night Football on a weekly basis ...
Armyntt  +   1148d ago
Averngers, sorry but WWE and the NFL are on totally different levels when it comes to viewership and fans. On any given week Raw gets a little over 20% of what the NFL gets. Not a knock on wrastlin but its no NFL.
ozzywazzy  +   1148d ago
Damn. I wasn't aware we had such an astronomical amount of hillbillies.
solid_warlord  +   1148d ago
Yes but movies dont call themselves a sport. WWE promotes itself as a sport. WWE wrestling is NOT a sports. Its more of an entertaintment just like soap opera and movies.

I used to watch wrestling when i was a kid. I watched it for its soap opera. The so called fighting was just god damn boring. Im 24 years old now, i cant stand watching half naked men slap each other.

I used to enjoy the old Smackdown games though, especialy Here comes the pain. After that game all WWE games sucked just like the show is today.
rocky047586  +   1148d ago
Since when does WWE promotes itself as a sport? When they call themselves Entertainment? Or is it when they tell people "Don't try this at home."? Because I didn't realize you couldn't try SPORTS at home! WWE promotes itself as a TELEVISION SHOW FOR ENTERTAINMENT PURPOSES ONLY! That's it, so please don't talk on things you don't know anything about unless you come up with the correct answer because what you wrote surely ain't it.
Karum  +   1148d ago
Yeah, WWE doesn't promote itself as a sport.

The line they beat out is 'Sports Entertainment' which is fitting due to it being fictional entertainment by way of characters and story arcs but also the sport of wrestling as a platform.

Also, people who do watch it (not me, not in quite some time at least) still do so for the soap opera.
MizTv  +   1148d ago
When is he not? Lol
Rampaged Death  +   1148d ago
It's all about the money !!!
Well at the moment it's not ;D
claud3  +   1148d ago
the WWE is in a stage of change and they need to seek a new developer for the wwe game series... And it's hard

since they have been with THQ for so long

and also the WWE does not want to be in this kind of position again, so caution is on their part
#19 (Edited 1148d ago ) | Agree(2) | Disagree(1) | Report | Reply
kane_1371  +   1147d ago
thq as a company is pretty much gone, but the studios are already sold, they don't have to change their devs, it was stated in thq's statement about hem selling their studios away.
ALLWRONG  +   1148d ago
He needs the money. His wrestlers (bad actors) still need to have daily doses of steroids and meth.
wishingW3L  +   1148d ago
if THQ has no money to pay what's gonna happen now? Everybody to jail?
ApolloTheBoss  +   1148d ago
Lol, you mad, Vince?
#22 (Edited 1148d ago ) | Agree(3) | Disagree(0) | Report | Reply
porkChop  +   1148d ago
THQ doesn't owe them 45 million. That 45 million was paid back in the end of 2009 when THQ renewed the licence until 2014. Which means that they are 3/5th through their contract. So technically, WWE is only owed 18 million. They're just trying to fuck over THQ and take all 45 million back. Fucking greedy, but what else can we expect from the man who sold out wrestling and screws over his employees and friends for a quick buck every chance he gets? This is par for the course for Vince.
3-4-5  +   1148d ago
If He's mad, that means he has NO leverage and he know's he's about to get screwed over. It's his own fault though.
snowman2149  +   1148d ago
WWE is crap these days, but Vince just go to EA they're a bad publisher when it comes to taking care of the fans but they do make good sports games
TemplarDante  +   1148d ago
Vince is going to find them and fake beat the hell out of them
optimus  +   1148d ago
This is actually good news somewhat since this will make wwe 13 a collector's item (it will most likely be the last game by thq) and it breaks ties with the wwe and they can give the license to another developer that will hopefully do a better job...i'm looking at you 2k games!
dee-ecks  +   1148d ago
I'd love to see what 2K could do with WWE SvR!
dee-ecks  +   1148d ago
WWE is like Call of Duty, Everyone badmouths it yet ratings/sales says that everyone plays/watches it.
BLAKHOODe  +   1148d ago
Exactly. It's one of those things people think is cool to hate, but secretly enjoy it. The popularity of WWE superstars and the ratings it's shows get cannot be denied, no matter how much people want to pretend hate on it. The mere fact you're here posting shows you have interest in WWE.
Soldierone  +   1148d ago
Not really. I came here for THQ. I see them about to take a 45 million dollar hit for something stupid, I want to express my opinion about it. Couldn't care less about WWE, and no I don't "secretly" like it either. I rather them lose the license and put the money into games like Metro.
kingslayer1000  +   1148d ago
Ecw ecw ecw ecw ecw
snarls200  +   1148d ago
The WWE being unsecured creditor means they would be one of the last people paid
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