‘Fiduciary Responsibility’: Eric Bischoff Gives Reason Why He Doesn’t Think WWE Is Trying To Sell
Credit: All Elite Wrestling
Eric Bischoff taught many wrestling fans a new term this weekend and that’s “fiduciary responsibility.”
The latest Internet scuttlebutt among wrestling fans is that WWE is looking to sell, but Eric makes it clear he doesn’t believe that to be the case. The star of 83 Weeks did a Q&A session in which he was asked about those rumors and he flat out said, “No. I do not,” before elaborating, something he did on his new weekly radio show with Conrad Thompson, “For The Heat.”
“Everybody’s running around now convinced that WWE is going to sell to Disney I’ve heard, to NBC Universal I’ve heard. Someone suggested to me today that Comcast is the actual bigger play (which is actual true in a way, in many ways). FOX may be interested, so there’s all this chatter there because it’s exciting to think about something major happening behind the scenes cause there ain’t that much happening in front of the scenes. Nothing new at least, nothing that gets people really excited. So there’s all this chatter out there,” Eric said before he gave listeners an economic lesson.
“If you’re a publicly head company and you’re an officer of that company, you’re the chairman of that company. Guess what your number one job is when you get up every single morning? To make money for your shareholders. That is called a ‘fiduciary responsibility.’ Fact. That’s Vince’s job. To make money for his shareholders,” Bischoff stated WWE’s recent major moves at talent releases and the hiring of new executives like Nick Khan as contributing to that responsibility.
“Just because a company is making moves to be more cost effective and efficient doesn’t mean they’re trying to sell it! That’s all,” he said. Eric pitched a simple hypothetical in which by making all these moves, WWE could perhaps be looking to buy a property that plays into the “fiduciary responsibility” aspect, but that was simply an idea and nothing else.
Transcription credit should go to @DominicDeAngelo of WrestleZone