It’s been a bad few weeks for Vince McMahon as WWE had to release quite a few names last week due to coronavirus related budget cuts, and the XFL also had to close its doors for a second time.
Oliver Luck was Commissioner and CEO of the XFL and it was recently reported that Luck filed a lawsuit against Vince McMahon for wrongful termination.
Dave Meltzer talked about the lawsuit on Wrestling Observer Radio and noted that Vince McMahon fired Luck before the league shut down.
The exact number that Oliver Luck is suing Vince for is sealed, but it’s believed to be $20 million.
Luck signed a five year deal with the XFL, and he was allegedly promised his money whether or not the league stayed in business, that’s why Luck left the NCAA.
It’s also being said that the day before the league closed Vince McMahon ceased all communication with Luck, then sent him a letter firing him. The letter reportedly detailed all the reasons he was being fired, and it was sent before Vince told the rest of the employees the league was shutting down.
It was noted that the XFL also lost less than people expect. Vince McMahon reportedly put $500 million into the company after selling $389 million worth of stock, and in the end he lost around $44 million not including his debts.
According to Meltzer Vince McMahon’s reputation is “real real bad” following the closing of the league.
[…] As we previously reported the XFL filed for Chapter 11 bankruptcy, and Vince McMahon is also being sued by former XFL Commissioner and CEO Oliver Luck. […]