TKO Seeks to Renegotiate Roman Reigns’ $15 Million WWE Contract Amid Netflix Viewership Drop
TKO, the parent company of WWE, is reportedly looking to renegotiate Roman Reigns’ massive $15 million contract, citing his “part-time” schedule as the reason for the potential pay cut. This news comes as WWE struggles with declining ratings on Netflix, with viewership down 30% since the show’s debut on the platform.
According to Cosmic Book News, the initial report about TKO’s interest in renegotiating Roman Reigns’ contract originated from former WWE Spanish-language commentator Hugo Savinovich. He discussed this on Lucha Libre Online, stating that TKO is aiming to reduce Reigns’ compensation due to his “part-time” schedule and the company’s broader cost-cutting measures. “While they won’t outright release him, he won’t be making $15 million per year anymore…Now, why $15 million? Let me break it down. Roman Reigns’ base salary is $5 million. But then there are add-ons—pay-per-views, video game deals like WWE 2K, promotional appearances, merchandise royalties (he earns 30% on merch, which is huge), and special bonuses like appearances in Saudi Arabia. Plus, he earns a cut from ticket sales. All of this adds up to $15 million a year…. TKO is saying: Roman’s not around full-time. Why are we paying him so much? So, they want to renegotiate,” Savinovich said, as reported by Cosmic Book News.
Savinovich also mentioned that Reigns will be starring in a new Hollywood film, which reports have said is the new Street Fighter movie. This news has sparked speculation about Reigns’ future with WWE and whether he will be able to negotiate a new contract that meets his demands.
The potential renegotiation of Reigns’ contract comes as WWE struggles with declining ratings on Netflix. According to Cosmic Book News, WWE Raw has lost nearly a third of its audience since debuting on Netflix. During the week of January 13, Raw drew 3.7 million global views and over 8.2 million hours watched. By the week of May 26, those numbers had dropped to 2.6 million views and 4.8 million hours, a 30% drop in views and a 41% drop in hours watched. The latest episode also failed to crack 5 million hours watched, the lowest mark yet for WWE on Netflix.
The decline in viewership has been attributed to a number of factors, including a boring and drawn-out storyline that is too repetitive, with too many commercials. Social media, particularly TikTok, is rife with fans disappointed with Raw on Netflix. This decline in viewership is a major concern for TKO, which is looking to slash spending across the board.
TKO’s cost-cutting strategy lines up with the company’s financial issues. As of March 31, 2025, the company carried around $2.776 billion in debt, with the bulk reportedly tied to UFC. The company has recently released veteran talents like R-Truth and Carlito, as they didn’t renew their contracts, raising questions about what’s really going on behind the scenes.
As reported by Cosmic Book News, Savinovich adds that TKO is cutting costs across the board, with rumors of more releases to come. “And TKO? They’re cutting costs across the board. We’ve seen recent releases, and there are rumors of more. Remember when Nick Khan, a major WWE exec, announced he was selling $4 million worth of stock? That raised eyebrows. TKO is saying: Roman’s not around full-time. Why are we paying him so much? So, they want to renegotiate,” Savinovich said.
What’s next for WWE? WWE Smackdown airs Friday night. Money in the Bank airs Saturday at 7pm ET / 4 PT on Peacock and on Netflix internationally. The future of Roman Reigns and WWE looks uncertain, with TKO looking to renegotiate contracts and cut costs across the board. One thing is certain, however: the world of professional wrestling is about to get a lot more interesting.
TKO’s decision to renegotiate Reigns’ contract is a clear indication that the company is looking to make some significant changes. With declining ratings and mounting debt, TKO is under pressure to make some tough decisions. As reported by Cosmic Book News, the company is looking to reduce Reigns’ compensation due to his “part-time” schedule. Whether Reigns will agree to a new contract is yet to be seen. One thing is certain, however: the future of WWE is about to get a lot more interesting.
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