Oliver Luck sues Vince McMahon

[nick1091]

I can only imagine Vince could’ve suspected this was coming. No ones going to take a firing voiding maybe 15 or so million or more (or whatever that prorated share would be of the assets in bankruptcy) lying down.

It’ll be interesting to see what the cited cause for termination was when that info finally gets out. Canning the guy who would be your largest creditor by for the day before you file Chapter 11 is certainly curious timing.

[4th&long]

I can understand that the XFL is going through Chapter 11 - ie debts will be expunged. OL will not collect on future obligations regardless. If he got paid thru April 9th he got paid what he worked through.

He had a contract. Just the same as Stoops, Moss, and all the other coaches. The league was under obligation to pay him. Whether they have to means to is another matter.

Just like anyone else losing a job for a company going out of business. Nothing against OL but hundreds lost their job he made $8-10 million 2018-2020 - poor guy.

This is a nonsequitur. The law doesn't care if Luck is wealthy. It does care if his contract was unjustly terminated.

But Stoops' contract for unfulfilled work will be removed in Chapter 11. So in that way termination for cause is the same result.

I understand the law doesn't care if Luck is wealthy. You stated "You can understand why some might are suspicious of McMahon's actions. "

I responded "You can understand why some might be unconcerned if Oliver Luck is not paid for unperformed future work for a defunct organization. " Now if the XFL didn't suspend and file Chap 11, diff story.

[Tank55]

I'm not a lawyer, but if it was the same end result, why take a different course of action?

Sad end. I sort of agree with Mark; I really appreciated that XFL 1.0 ended without lawsuits or unpaid bills. We don't yet know the full story, but it sure looks like Vince was willing to do right by most everyone but just couldn't bring himself to swallow Luck's contract.

[4th&long]

I'm not a lawyer, but if it was the same end result, why take a different course of action?

Sad end. I sort of agree with Mark; I really appreciated that XFL 1.0 ended without lawsuits or unpaid bills. We don't yet know the full story, but it sure looks like Vince was willing to do right by most everyone but just couldn't bring himself to swallow Luck's contract.

Are you sure that VM paid all XFL 1.0 bills for future work performance. Were all contracts for 1 year? I doubt it. The difference here is XFL 2.0 is trying to sell itself and filed chap 11. XFL 1.0 was likely chap 7 (closing up perm).

VM loaned the league money to keep it afloat (ie make payroll 3/12 thru 4/12) after it suspended and may be its largest creditor. He likely wants some of that back. Luck will have to fight the termination and likely will settle out of court (for little IMO). VM sounds PO'd about XFL going down and is a grumpy SOB. My gut was he's pissed that OL just paid everyone after suspending and wants as much of his money back during that period. I think that was a mistake - on OL's part and its burning VM.

OL acted like XFL and his contract was immune to Coronavirus and that was a big mistake IMO. When they suspended the season they should not have gone on like biz as usual spending $$$ like it didnt matter.

VM is even lending money for the Chap 11 filings.... so he must think there is value or he'd just Chap 7 and walk.

Also it sounds like the league was losing alot less money than projected despite the suspension. VM like everyone else is likely mad about this Coronavirus costing him money/success. The whole (virus) thing sucks.

https://wrestlingnews.co/wwe-news/updat ... he-league/

https://www.pwmania.com/report-about-vi ... fl-folding

In the end I think VM is going to be the one who will be the most upset with his decision to fold the league. The season was already paid for why Fold? Why not suspend with furloughs and cost cutting, and wait out the virus and relaunch in later in 2021 or 2022? Is the only reason OL's contract? A tantrum by VM? Or OL not being savvy enough to cost cut?

The original accounts were that VM wasn't liking what he was hearing on gov response and length of shutdown. If that was the case he may prove right or it may prove premature. Time will tell - I hope its the later (for all of us).

[MGB01]

I'm not a lawyer, but if it was the same end result, why take a different course of action?

Sad end. I sort of agree with Mark; I really appreciated that XFL 1.0 ended without lawsuits or unpaid bills. We don't yet know the full story, but it sure looks like Vince was willing to do right by most everyone but just couldn't bring himself to swallow Luck's contract.

Are you sure that VM paid all XFL 1.0 bills for future work performance. Were all contracts for 1 year? I doubt it. The difference here is XFL 2.0 is trying to sell itself and filed chap 11. XFL 1.0 was likely chap 7 (closing up perm).

VM loaned the league money to keep it afloat (ie make payroll 3/12 thru 4/12) after it suspended and may be its largest creditor. He likely wants some of that back. Luck will have to fight the termination and likely will settle out of court (for little IMO). VM sounds PO'd about XFL going down and is a grumpy SOB. My gut was he's pissed that OL just paid everyone after suspending and wants as much of his money back during that period. I think that was a mistake - on OL's part and its burning VM.

OL acted like XFL and his contract was immune to Coronavirus and that was a big mistake IMO. When they suspended the season they should not have gone on like biz as usual spending $$$ like it didnt matter.

VM is even lending money for the Chap 11 filings.... so he must think there is value or he'd just Chap 7 and walk.

Also it sounds like the league was losing alot less money than projected despite the suspension. VM like everyone else is likely mad about this Coronavirus costing him money/success. The whole (virus) thing sucks.

https://wrestlingnews.co/wwe-news/updat ... he-league/

https://www.pwmania.com/report-about-vi ... fl-folding

In the end I think VM is going to be the one who will be the most upset with his decision to fold the league. The season was already paid for why Fold? Why not suspend with furloughs and cost cutting, and wait out the virus and relaunch in later in 2021 or 2022? Is the only reason OL's contract? A tantrum by VM? Or OL not being savvy enough to cost cut?

The original accounts were that VM wasn't liking what he was hearing on gov response and length of shutdown. If that was the case he may prove right or it may prove premature. Time will tell - I hope its the later (for all of us).

Unfortunately, LA and New York/Jersey will still continue to be run like a John Carpenter movie even as things trend downward (upward for us, hell their precious IMHE models have us in single digit deaths by June). So that takes out your two biggest markets and there's no revenue. Not even including all the mini-mes that are on the shutdown express.

Ironically for Vince it's sort of like WCW when the new management pulled them off Turner Broadcasting, with some AAF (market-wise, not how they folded) thrown in. That doesn't spell success in 2021, which is the highly important turning point year where they go from development into a thing.

Plus there's a better chance by the day of NCAA football playing during that time, among other things on the landscape.

[4th&long]

I'm not a lawyer, but if it was the same end result, why take a different course of action?

Sad end. I sort of agree with Mark; I really appreciated that XFL 1.0 ended without lawsuits or unpaid bills. We don't yet know the full story, but it sure looks like Vince was willing to do right by most everyone but just couldn't bring himself to swallow Luck's contract.

Are you sure that VM paid all XFL 1.0 bills for future work performance. Were all contracts for 1 year? I doubt it. The difference here is XFL 2.0 is trying to sell itself and filed chap 11. XFL 1.0 was likely chap 7 (closing up perm).

VM loaned the league money to keep it afloat (ie make payroll 3/12 thru 4/12) after it suspended and may be its largest creditor. He likely wants some of that back. Luck will have to fight the termination and likely will settle out of court (for little IMO). VM sounds PO'd about XFL going down and is a grumpy SOB. My gut was he's pissed that OL just paid everyone after suspending and wants as much of his money back during that period. I think that was a mistake - on OL's part and its burning VM.

OL acted like XFL and his contract was immune to Coronavirus and that was a big mistake IMO. When they suspended the season they should not have gone on like biz as usual spending $$$ like it didnt matter.

VM is even lending money for the Chap 11 filings.... so he must think there is value or he'd just Chap 7 and walk.

Also it sounds like the league was losing alot less money than projected despite the suspension. VM like everyone else is likely mad about this Coronavirus costing him money/success. The whole (virus) thing sucks.

https://wrestlingnews.co/wwe-news/updat ... he-league/

https://www.pwmania.com/report-about-vi ... fl-folding

In the end I think VM is going to be the one who will be the most upset with his decision to fold the league. The season was already paid for why Fold? Why not suspend with furloughs and cost cutting, and wait out the virus and relaunch in later in 2021 or 2022? Is the only reason OL's contract? A tantrum by VM? Or OL not being savvy enough to cost cut?

The original accounts were that VM wasn't liking what he was hearing on gov response and length of shutdown. If that was the case he may prove right or it may prove premature. Time will tell - I hope its the later (for all of us).

Unfortunately, LA and New York/Jersey will still continue to be run like a John Carpenter movie even as things trend downward (upward for us, hell their precious IMHE models have us in single digit deaths by June). So that takes out your two biggest markets and there's no revenue. Not even including all the mini-mes that are on the shutdown express.

Ironically for Vince it's sort of like WCW when the new management pulled them off Turner Broadcasting, with some AAF (market-wise, not how they folded) thrown in. That doesn't spell success in 2021, which is the highly important turning point year where they go from development into a thing.

Plus there's a better chance by the day of NCAA football playing during that time, among other things on the landscape.

Well I certainly hope they open up the economy sooner than later. The curve has been flattened. We can't burn the house to prevent a pest infestation. Fatality rates under age 40 are 1/30k-50k. Those over 60 need to be protected along with 40-50yo's with conditions. But destroying the economy isn;t the answer.

We'll see states open up phasing in over the next weeks, with precautions, and momentum will shift in that direction. Hopefully. Lets see.

[johnnyangryfuzzball]

Well I certainly hope they open up the economy sooner than later. The curve has been flattened. We can't burn the house to prevent a pest infestation. Fatality rates under age 40 are 1/30k-50k. Those over 60 need to be protected along with 40-50yo's with conditions. But destroying the economy isn;t the answer.

We'll see states open up phasing in over the next weeks, with precautions, and momentum will shift in that direction. Hopefully. Lets see.

One can hope.

I'm reading a lot now about how insurance companies are now refusing to cover summer events. The worst-case scenario is that we lose this summer, then we end up with a second wave in the fall and all of this is for naught.

[Tank55]

Are you sure that VM paid all XFL 1.0 bills for future work performance. Were all contracts for 1 year? I doubt it.

No, they weren't. In fact, all the GMs were on 2-year deals except Tom Veit. But when the league went under, Vince extended his contract a year to put him in line with the other guys. He continued to be paid through what would have been the 2002 season.

But Veit wasn't owed tens of millions of dollars and Vince hadn't just seen 40% or whatever of his net worth evaporate.

[4th&long]

Are you sure that VM paid all XFL 1.0 bills for future work performance. Were all contracts for 1 year? I doubt it.

No, they weren't. In fact, all the GMs were on 2-year deals except Tom Veit. But when the league went under, Vince extended his contract a year to put him in line with the other guys. He continued to be paid through what would have been the 2002 season.

But Veit wasn't owed tens of millions of dollars and Vince hadn't just seen 40% or whatever of his net worth evaporate.

XFL was a joint venture with NBC so VM paid for GM salaries after NBC bailed? That's beyond generous.

Who would expect to get paid if company went out of business?

[Tank55]

People with guaranteed contracts.

Yes, it was exceptionally generous.