McMahon Reportedly Fired Oliver Luck From XFL Before Announcing Its Closure
As we reported earlier this week, former XFL commissioner Oliver Luck filed a wrongful termination lawsuit against Vince McMahon over his dismissal from the XFL prior to it shutting down. In the latest edition of Wrestling Observer Radio, Dave Meltzer broke down some of the things revealed in the lawsuit about how McMahon went about firing Luck. The exact number Luck is suing for is sealed but believed to be $20 million, as he signed a contract for five years for around that much.
Meltzer said that Luck was allegedly promised his money and it didn’t depend on whether or not the XFL stayed in business. Even if the XFL closed, he would get his money. It was that promise that led to Luck leaving his position in the NCAA. The day before the XFL closed, McMahon “ceased all communication” with Luck at the end and then sent a letter to Luck firing him. The letter “gave all these reasons” why Luck was fired. The letter was sent before McMahon told t he rest of the staff that the XFL was shutting down.
Meltzer also said that the XFL lost less than most people would expect. McMahon reportedly said he put $500 million into the company after selling over $389 million in stock, but Vince actually only lost $44 million, not including his debts. That means that since he loaned the XFL money, he is now owed by the XFL as a top creditor. Meltzer added that McMahon’s reputation is “real real bad right now” for “screwing not just Oliver Luck, but all the executives — the printing shops, the mom and pops, every organization he did, the merchandise people, all those people are getting it.”
This syncs up with a previous report that McMahon’s reputation was hurt by the XFL filing for bankruptcy.