WWE's Value Down HALF A BILLION Amidst Vince McMahon Controversy
Those ongoing Vince McMahon allegations have cost WWE a pretty penny already.
WWE's value has dropped from $4.995 billion to $4.485 billion.
Obviously, that's still a staggering amount of money, but the company's overall value has gone down 10.21% since reports surfaced in The Wall Street Journal alleging sexual misconduct from Vince McMahon towards a female employee.
That 10.21% equates to $510 million.
IndieWire also reported that some metrics have actually gone up for the promotion. This past week's editions of Raw and SmackDown, for example, had higher ratings for some segments than WWE has experienced lately. That, of course, could have something to do with the ongoing controversy.
WWE announced McMahon for last Friday's SmackDown ahead of time, but they kept his showing on Raw under wraps until it happened.
The company's value fell from $4.995 billion to $4.823 billion within 24 hours of allegations surfacing against Vince and John Laurinaitis. By Friday, that number had dropped to $4.647 billion, and it continued to plummet towards the $4.485 billion figure.
It'll be interesting to see if things stabilise soon, or if that number will keep dropping. WWE definitely won't see it as a plus that value has gone down over $500m, that's for sure.