Earlier today, WWE’s parent company TKO reported its 2026 third quarter financial performance. You can head over to POST Wrestling’s excellent coverage for all the relevant numbers, if that’s your thing.
The part I’m more interested in focusing on is TKO President Mark Shapiro’s remarks during the follow-up call with investors. While lots of wrestling fans are concerned about the safety risk TKO / WWE is taking by sending its wrestlers and production crew to a war zone in Riyadh, Saudi Arabia, to run
this Saturday’s (Nov. 7) Crown Jewel PLE, the shareholders are much more concerned about the financial risk for TKO if any of its Middle East shows are canceled.
Shapiro described that financial risk as “extremely minimal” because even if an event doesn’t take place as is currently scheduled, the money will be made up down the line when the show is rescheduled. In the aftermath of this week’s elections where the US voters collectively gave Donald Trump and the Republican Party a giant middle finger, Shapiro cited JD Vance’s comments today regarding Trump’s stupid war with Iran as a reason to be optimistic that the situation in the Middle East will not escalate from here.
Shapiro also said there are plenty of cities where they can move WrestleMania 43 to next year if the unpredictable nature of the world means it can’t take place in Saudi Arabia.
“I would tell you that the risk is extremely minimal. I think we’ve endured the tough climb thus far this year, right? We’ve had no events interrupted. We’ve staged all of our events in the Middle East flawlessly. We have three events left this year, one being November 7th with Crown Jewel, which should be a big one for us. We are all systems go.
I would just say further, [the] Vice President comes out today and says it’s very clear, voters have spoken. And they’ve obviously spoken with their votes, and we need to get this conflict in Iran wrapped up. So, just a week ago they’re talking about dropping more bombs, and now they’re talking about wrapping it up. Who knows what’s real, or what’s true, but we’re just proceeding forward with our partners as if these events will go off without a hitch.
And I would just add for those of you that are concerned about if this extends further, does this put WrestleMania [next year in Saudi Arabia] at risk, I would just tell you, it’s in no more more risk than it ever was given that the world is an unpredictable place. But we’ve already been paid half up front, and received the funds from our partners in Saudi. And if and when our events ever had to be moved, because it would never be canceled, we will certainly and definitely see payment on the other half. So come rain or shine, we’re getting the other half payment. So we’re sitting in a good place.
As far as contingency goes, it’s a long list of cities, primarily in the US, that we would move a WrestleMania to…We have cities lining up, kind of raising their hands, standing, willing, ready, and waiting. And we’ll cross that bridge when we come to it, but frankly, we’re not concerned.”
How do you feel about TKO saying their risk for WWE Crown Jewel is extremely minimal while also admitting they don’t know what to believe from the Trump administration? Let me know in the comments below, Cagesiders.
