Report: Vince McMahon Owes $20 Million To Sacked XFL CEO
Ex-XFL chief Oliver Luck was guaranteed a HUGE sum of money.
Former XFL Commissioner and CEO Oliver Luck was owed approximately $20 million dollars prior to his dismissal ahead of the business entering bankruptcy.
This is according to new information from Dave Meltzer on today's episode of Wrestling Observer Radio, following on from Tuesday's news that Luck was suing XFL owner Vince McMahon for wrongful termination.
Meltzer claims that while the exact figure is in the lawsuit, it is sealed via confidentiality contract, though $20 million is thought to be the ballpark. Luck had been guaranteed this money by Vince. It wasn't contingent on whether or not the XFL was successful, so he'd be due it even if the organisation went out of business. McMahon knew this and ended all communication with Luck, then sacked him the day before folding the XFL, informing him via letter.
The lawsuit also reveals that Vince had only poured $44 million into the business, not the $500 million he had previously claimed, and will likely be able to claim a huge chunk of that back as debt through the bankruptcy process.
As has been previously stated elsewhere, McMahon's name has taken a huge hit in the business world as a result of the XFL's demise. It's thought that he and Luck will settle out of court.