WWE previously informed its stockholders that the company might take a financial hit during the coronavirus pandemic. Vince McMahon has now taken necessary measures to financially safeguard his company during the COVID-19 situation.
WWE has filed a Form 8-K with the Securities and Exchange Commission to ensure more liquidity while the business suffers from the global pandemic. The filing reads as follows:
“Mr. McMahon entered into the variable prepaid forward contract to provide current liquidity while allowing him to maintain voting and ordinary dividend rights in the stock, as well as the ability to participate in future stock price appreciation, during the term of the contract and thereafter if Mr. McMahon settles the variable prepaid forward contract in cash.”
Meanwhile, a “stay at home” order has been mandated for Orange County, Florida where there are over 50 confirmed cases of coronavirus at present. The order goes into effect at 11:59 PM on Thursday night and hopefully, WWE will be able to wrap up WrestleMania 36 filming before that ‘deadline’.
WKMG quoted Orange County Mayor Jerry Demings as saying:
“Orange County now has at least 50 cases within our county. On March 15, just one week ago we had just one case. It is an understatement that it is spreading throughout our community.”
It’s extremely possible that WWE may have to cancel their shows including WrestleMania 36 due to the latest order made by the authorities. The company has been producing its programs from the Performance Center in Orlando, and the stay-at-home order is likely to shut down all tapings Friday onwards which means there won’t be any weekly pro wrestling action from the PC after April 5th. It is to be noted that Full Sail University, NXT’s home, is also located in Orange County which is exactly where the Performance Center is also situated.