TKO is reportedly looking to renegotiate Roman Reigns’ massive $15 million WWE contract, claiming the “part-time” superstar’s deal isn’t worth the cost.
The news comes as WWE struggles with declining ratings on Netflix. We can also add that TKO and the WWE 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.
What is said about Roman Reigns’ contract?
The initial report about TKO’s interest in renegotiating Roman Reigns’ $15 million WWE 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 also brought up mention that Reigns will be starring in a new Hollywood film, which reports have said is the new Street Fighter movie.
Viewership Down 30% on Netflix
Regarding the viewership, 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 (via Netflix).
The latest episode also failed to crack 5 million hours watched, the lowest mark yet for WWE on Netflix. Even though Raw still charts in the global Top 10 for English-language TV, the shrinking numbers are raising red flags, especially as TKO looks to slash spending across the board.
Social media, particularly TikTok, is rife with fans disappointed with Raw on Netflix, citing a boring and drawn-out storyline that’s too repetitive with too many commercials.
TKO cutting costs and mounting debt
Savinovich adds about TKO cutting costs:
“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.”
The cost-cutting strategy lines up with TKO’s financial issues. As of March 31, 2025, the company carried around $2.776 billion in debt, with the bulk reportedly tied to UFC.
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 (where to watch, show time, preview, results here).
