Plus: Thoughts on XFL 2.0, building stars, and what the hell happened with ousted execs George Barrios and Michelle Wilson
WWE is down two presidents and $15 per share since last Thursday – and oh, yeah, Vince McMahon’s professional wrestling company still has to report its fourth-quarter and full-year 2019 earnings on Thursday.
The situation looked dismal even before last week’s sudden ouster of co-presidents and longtime execs George Barrios and Michelle Wilson: Live events revenue/attendance is down, merchandise sales are way down, the Middle East deal is unpopular and unclear, TV ratings aren’t lighting it up and upstart competition All Elite Wrestling (AEW) is off to a pretty solid start.
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What’s worse, the company’s stock is less than half where it was nine and a half months ago. In an attempt to make sense of a situation messier than the abandoned Who Attacked Roman Reigns? storyline on “SmackDown,” TheWrap TV editor Tony Maglio tag-teamed with Wrestlenomics analyst Brandon Thurston to assess the state of the granddaddy of pro wrestling.
Also Read: WWE Stock Sinks 20% on News of George Barrios, Michelle Wilson Exits
OK, Brandon, as I write this on Monday, WWE stock is down another few percentage points. We get WWE’s Q4 and full-year 2019 earnings on Thursday morning and the XFL 2.0’s — which is supposedly independent from WWE — on Saturday. What’s going on?
It’s a lot of concerning news for WWE lately. Despite all that, WWE remains really financially secure. The nature of their TV agreements with NBCUniversal and Fox Sports, respectively for “Raw” and “Smackdown,” basically guarantees that WWE will break its own revenue records and probably profit records through 2024. The stock had a terrific run-up and subsequent optimism following the completion of those deals in spring 2018.
The reason for the stock decline of late is uncertainty. Why were co-presidents George Barrios and Michelle Wilson apparently fired? Barrios especially was the face of the company to the financial community. What was the nature of their disagreements alluded to in the press release? Does CEO Vince McMahon want to spend more? If so, is that going to adversely affect WWE’s profit performance?
Part of the concern, which may have played a role in the co-presidents’ exit, is delay around WWE’s international TV deals. The U.K. and India are their biggest TV markets after the U.S. The U.K. deal resulted in changing partners, going from Sky Sports to BT Sport, possibly at lateral or slight downgrade in economic value. Some analysts expected a slight upgrade in that market. The India deal expired with the end of 2019, but WWE programming is still airing with their partner there, Sony. So maybe a deal is imminent, but it’s not been completed on schedule. Analysts were expecting an upgrade from India as well. Is the delay related to WWE not getting the value they’d hoped for?
Additionally, the deal in the Middle East-North Africa region, being negotiated with Saudi-owned MBC is still overdue, which was in-part the company’s explanation on why adjusted OIBDA (WWE’s non-GAAP preferred profit metric) projections were downgraded from $200 million to a range of $180 million to $190 million. We know because it was stated in the aforementioned press release, that WWE is going to report on the low-end of that range Thursday.
The most interesting story to me is around why Barrios and Wilson are out. I expect we’ll get some hints from Vince on Thursday but will still be left with unanswered questions. Was spending the issue? Were there other factors? Trouble with international TV deals? The Live Events division has been struggling to make a profit. Was there strain in light of AEW getting an extension and upgrade to its deal with WarnerMedia? Is Vince having some remorse about the WWE Network, which was largely pitched by the co-presidents, not meeting the original 3-4 million subscriber goal originally set? Do Barrios and Wilson realize, as I’ve argued elsewhere, that McMahon’s involvement in creative is a detriment to star development and WWE economics, and was that a source of tension? Some reports indicate it was not a factor, but was there pressure from the relaunch of the XFL happening on Saturday and the use of WWE employees’ labor to support it? Hopefully we get some clues on these questions Thursday.
Also Read: How WWE Superstar Carmella Came Up With the 'Code of Silence' Submission Move
I personally wouldn’t bet on creative being much of a concern to Barrios and Wilson — at least not one high enough on their list at the very ominous time they were let go, which seems to have caught all (including possibly WWE HR) by surprise.
I, too, have heard some concerns over WWE employees spending time on the XFL 2.0 launch. Explain why that’s something between an optics problem and possibly illegal — or at least, arguably, a breach of fiduciary duties.
A lawsuit was filed recently related to WWE’s relationship with XFL’s parent company, Alpha Entertainment, LLC. The plaintiff isn’t claiming damages yet, but is demanding records. Basically there’s suspicion that the two McMahon-controlled entities are engaged in dealings that are very favorable to Alpha and not in WWE shareholders’ interests. WWE sold Alpha the XFL intellectual property and is, on an ongoing basis, providing Alpha with support services of WWE employees. The suit alleges conflicts of interest and raises the possibility that transactions are being made at a rate that is below fair market value. The plaintiff (Oklahoma Firefighters Pension and Retirement System) is a very small shareholder, so this may be an attempt to begin class action.
Vince McMahon formed Alpha Entertainment as a separate entity, to remove WWE from the risk that would be presented by his second attempt at a pro football league. WWE’s SEC filings disclose that the XFL IP was sold to Alpha for $1 million. The lawsuit shows a slide from an AAF business pitch deck where it’s suggested the Ebersol family would offer WWE $50 million for the IP (however such a deal between McMahon and Ebersols obviously never materialized). Trademark filings show McMahon’s favored law firm (K&L Gates) simultaneously represented WWE and Alpha as it relates to the relevant IP, an alleged conflict of interest. SEC filings also show that WWE is charging Alpha for support services.
WWE employees are doing XFL work, and Alpha is paying WWE for that work. But the lawsuit points out there have been no disclosures about the terms of the agreement, nor how the charges are being calculated. It’s suggested an independent committee should have been appointed to ensure agreements between WWE and Alpha were in the interest of WWE shareholders, and there are no disclosures to show any such action was taken. I’m not a legal expert but it seems like a reasonable case for the plaintiffs. It’ll be interesting to see if more records are made public as a result. (In the Oklahoma Firefighters Pension and Retirement System’s legal filing, the group says that on Sept. 17, 2019, WWE declined to allow for an inspection of the wrestling company’s books. It goes on to say that on Dec. 9, WWE declined to produce documents it demanded. WWE did not immediately respond to TheWrap’s request for comment on those statements in the Oklahoma Firefighters Pension and Retirement System’s legal filing.)
If you wonder exactly how shy of those WWE Network sub predictions the SVOD service currently is, ahead of Q3, we charted its entire existence. It didn’t do any better in the third quarter, when WWE Network averaged 1.51 million paid subscribers. Next quarter will get the WrestleMania bump, but this one…
On WWE Network, in the previous earnings report, WWE projected 1,430,000 for average paid subscribers for Q4. If accurate, which they usually are, that would be a 10% decline from last year’s Q4. It’ll probably mean a full year of decline in U.S. subscriptions. As part of the industry analysis I did recently, I found international subscriptions are falling too.
Taking the weekly “NXT” program off the WWE Network in favor of putting it on the USA Network doesn’t help subs. We should be able to deduce from Thursday report what WWE’s getting in the way of compensation from NBCU for the “NXT” move. “NXT” was the most popular weekly program on the Network, although it’s important to remember the peak NXT Takeover events remain exclusively on the service. I think the larger reason for the decline in subs, like the decline in other areas of business you noted earlier, is that WWE hasn’t made big stars lately and John Cena is following Dwayne Johnson’s footsteps to move on to an acting career.
The technology wrestling uses to reach audiences and the qualities that hook fans always changes over the years, but what still hasn’t changed in the long history of pro wrestling is that it’s a star-driven business. Distribution strategy is essential, but it’s blunted if there aren’t big stars in big matches to deliver. Fortunately for WWE they had a couple decades to build themselves up as far and away the biggest wrestling brand in the world and they find themselves in a media market where the value on live sports-like programming has exploded, so they’ve got a lot of financial security.
Also Read: How Massachusetts Wrestler Carmella Became WWE's 'Princess of Staten Island'
So the consensus estimate forecasts WWE earnings per share of 73 cents on $333.28 million in revenue. Those would both be way up from last year. Do you have a prediction as to a beat or a miss?
Doing the math, I have trouble getting to $333 million in revenue for the quarter. At best I can get to about $283 million. That’s all counting on $50 million from a Saudi Arabia event, there being some money for “NXT” on USA Network, and a step-up in new “Raw” and “SmackDown” money. If I’m close, this sheds light on additional reasoning for the exit of Barrios and Wilson. That would close the year at about $921 million in revenue, down from 2018 ($930 million). 2019 was a year where they were originally talking about hitting $1 billion in revenue. The last time annual revenue fell from the year prior was 2009. Recall too the company has adjusted financial projections in the last two reports, based on the delay in completing the MBC deal. If that deal was completed by now, one would think there’d be a press release.
This is the first quarter with payments from the new U.S. TV deals, which will definitely mean a large increase in that line, but I expect the payments to contractually escalate over time, so the smallest payments of those 5-year deals will be in this report. To meet 73 cents in EPS, net income in the quarter has to be $60-$66 million, depending on diluted shares. The vast majority of profit is going to come from the media division. Despite the usual holiday tour, I think it’s likely little money is made on live events again this quarter. And consumer products will provide a minority of profit. I see net income being around $55 million, which would end the year for total net income at about $63 million, down from last year’s record-breaking $99.6 million. Diluted shares have been around 90 million lately, which would imply an EPS of 61 cents for the quarter.
I’m glad you mentioned stars. Who do you see as WWE’s top three to five stars? Who do you see there that should be pushed more to main event status?
Many of WWE’s major stars that jump to mind aren’t full-time. As far as name recognition, it’s John Cena, Brock Lesnar, The Undertaker. Does Ronda Rousey count? Goldberg, Triple H, Shane McMahon, Vince, Stephanie. To a wider audience, the Bella Twins. It doesn’t feel likely Cena will be appearing at any time other than a WrestleMania at this point. The star power for the average PPV isn’t as great as it is for the Saudi events. As far as those who appear on a weekly basis: Roman Reigns, Becky Lynch, Seth Rollins, Randy Orton, Charlotte are their 5 biggest names, if I had to pick.
I think there are countless wrestlers who would be bigger stars under a different creative system, including those I already mentioned. But Rusev, Bayley, Braun Strowman and Sasha Banks stand out as those who could’ve been bigger stars for WWE. I think a component in the audience decline is some fans feel frustrated seeing so many talented wrestlers not reach their potential for reasons that are, perceptibly if not actually, out of their control. And it feels like the window has passed for many. It’s encouraging though to see Drew McIntyre make his comeback after being released a few years back, now winning the Royal Rumble match recently. I think with his size and personality, Big E could still be a main-eventer as a singles wrestler. NXT talents Bianca Belair and Velveteen Dream seem destined for big things as well.
Finally, do you see a near-to-midterm future with no WWE Network? In light of the XFL 1.0’s failure and the disastrous AAFL, what are your XFL 2.0 predictions?
As far as the network goes, I could see a future where WWE sells rights to the PPVs to a bigger streaming player like DAZN or Peacock or ESPN+. In that case, there’s probably still a WWE Network to offer the company’s enormous video library, which there’d still be a market for. The company is benefiting from collecting data on its subscribers too, which they use to market additional WWE products too. The infrastructure is there and there’s still value in the library and data, so I don’t think it’s ever going away outright.
Finally, on your XFL 2.0 question. As outrageous as the idea is of trying to do the XFL again, Vince probably has a good shot at it. He cashed out about $380 million in stock to fund it, so I don’t think this is going to end up like AAF where the funding backed out. He has multi-year TV deals in place, so the XFL is probably ready to be around for a few years to lose money and see if it can gain a following that they can then leverage into huge rights fees later that will cover the initial costs. The XFL and AEW propositions are somewhat alike in that way: betting that there’s space for a secondary brand, requiring strong funding upfront, taking initial TV deals that don’t pay big money but have strong reach, and hoping to later capture the lucrative market in TV for live sports. The strategy seems to have already paid off for AEW.
Is any present-day strategy paying off for WWE? Check back with TheWrap on Thursday morning for the wrestling company’s earnings report and our analysts. WWE will hold a conference call at 11 a.m. to discuss the results.
Every WWE Champion Ever, Ranked by Number of Reigns (Photos)
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Pro-wrestling championship belts change hands (or waists) like grapplers change ring gear these days, though it wasn't always that way. Drew McIntyre is WWE Champion (again) these days after taking the strap back from Randy Orton during a mid-November "Raw" episode. Â
Scroll through our gallery to see every WWE Champion ever, ranked by their number(s) of title wins. Remember: this is a list of those who won the WWWF Championship, the WWF Championship or the WWE Championship. So don't come after us, Universal Champions, et al. Â
Below is a random sample from our full stable. Â
Also Read: John Cena on a Possible Return to Wrestling: ‘The WWE Does Not Need Me’
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Rank: 30 (tie)Â Â
Wrestler: Kofi Kingston Â
# of Reigns: 1  ÂThe power of positivity. Â
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Rank: 30 (tie)Â Â
Wrestler: Jeff Hardy Â
# of Reigns: 1 ÂThe un-"Broken" half of the Hardy Boyz has had the more storied singles career. Â
Also Read: ‘SmackDown Live': Daniel Bryan Ends AJ Styles’ 371-Day Reign as WWE Champion (Video)
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Rank: 30 (tie)Â Â
Wrestler: Bray Wyatt Â
# of Reigns: 1 ÂAbigail's brother used to go by "Husky Harris" -- we'd say this run is working out better for him. Â
Also Read: 7-Time WWE World Heavyweight Champ Edge on Where He Ranks, Size-Wise, in the Land of ‘Vikings’
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Rank: 30 (tie)Â Â
Wrestler: Sgt. Slaughter Â
# of Reigns: 1 ÂCamel Clutch, Cobra Clutch -- whatever "C"-animal it was, it hurt. Â
Also Read: WWE Hall of Famer Edge on Why Hollywood Loves to Work With Wrestlers
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Rank: 30 (tie)Â Â
Wrestler: Dean Ambrose Â
# of Reigns: 1 ÂAnd "The Lunatic Fringe" pulled this off while wearing jeans. Â
Also Read: WWE ‘Raw’ Won’t Run Long on USA Network Anymore
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Rank: 30 (tie)Â Â
Wrestler: Chris Jericho Â
# of Reigns:Â 1Â ÂYou're a "stupid idiot" if you didn't know this guy made "The List."Â Â
Also Read: Ex-WWE Intercontinental Champion Jeff Jarrett Out as Impact Wrestling Chief Creative Officer
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Rank: 30 (tie)Â Â
Wrestler: Eddie Guerrero Â
# of Reigns: 1 ÂGenerally considered one of the best ever to have done it held the big-boy belt for 133. Â
Also Read: Kurt Angle to Return to WWE Ring After 11-Year Hiatus, Replacing Roman Reigns at ‘TLC’ PPV
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Rank: 30 (tie)Â Â
Wrestler: The Miz Â
# of Reigns: 1 ÂThe kid from "The Real World" made good on his over-the-top MTV promos. One of the best on the mic, Miz has been holding down the Intercontinental Championship more than any other Superstar of the past few years. Â
Also Read: WWE Superstar Charlotte Flair on Ric Flair’s Recovery, Baring All in New Book: ‘It Was Ugly’
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Rank: 30 (tie)Â Â
Wrestler: Jinder Mahal Â
# of Reigns: 1 ÂShortly before this publishing, the "Modern-Day Maharaja" dropped the title to A.J. Styles, ending a somewhat confusing run right before the WWE went to India. Â
Also Read: Stephanie McMahon on Why the Women of WWE ‘Are Stealing the Show’ (Video)
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Rank: 30 (tie)Â Â
Wrestler: John "Bradshaw" Layfield Â
# of Reigns: 1 ÂJBL has taken his heel persona from the ring to the announce table. Never without a cowboy hat, Layfield thankfully leaves his lariat clothesline at home. Â
Also Read: Lance Russell, Longtime Pro Wrestling Commentator, Dies at 91
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Rank: 30 (tie)Â Â
Wrestler: The Ultimate Warrior
# of Reigns: 1 ÂThe muscle-bound maniac who handed Hulk Hogan his first-ever "WrestleMania" loss died after suffering a heart attack three days after being inducted into the WWE Hall of Fame. Â
Also Read: How ‘Stone Cold’ Steve Austin Would Do on His ‘Broken Skull Challenge’
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Rank: 30 (tie)Â Â
Wrestler: "Superstar" Billy Graham Â
# of Reigns: 1 Â"Superstar" Billy Graham was a bodybuilder and buddy of Arnold Schwarzenegger. Yeah, blame Graham's body for Jinder Mahal. Â
Also Read: Ric Flair Details Near-Death Episode After Decades of Drinking: ‘It Scared the Sh– Out of Me’
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Rank: 30 (tie)Â Â
Wrestler: Kevin Nash Â
# of Reigns: 1 ÂYou mean Tarzan from "Magic Mike"?!?!?  Yes, yes we do. Â
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Rank: 30 (tie)Â Â
Wrestler: Pedro Morales Â
# of Reigns: 1 ÂHistory lesson: Back in the WWWF days, Morales became the first guy in wrestling history to win all three of the major men's titles -- the WWF Championship, the Intercontinental Championship and the WWF Tag Team Championship -- in the company. Â
Also Read: WWE Superstar Big Show’s Clean-Shaven Look Sends Twitter Into a Tailspin
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Rank: 30 (tie)Â Â
Wrestler: André the Giant Â
# of Reigns: 1 ÂThe stories about André the Giant sometimes feel as tall as he was. Â
Also Read: Cody on Why Ring of Honor World Championship Makes Him Feel ‘Vindicated’
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Rank: 30 (tie)Â Â
Wrestler: The Iron Sheik Â
# of Reigns: 1 ÂThis guy is as big a hit on Twitter as he was in the ring. Â
Also Read: WWE Bans Beach Balls After ‘SummerSlam’ Incident Involving Cesaro
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Rank: 30 (tie)Â Â
Wrestler: Kane Â
# of Reigns: 1 ÂYou wouldn't know it by looking at him, but Kane is one of the smartest Superstars in WWE history. Â
Also Read: Why Wrestler Cody Can’t Be Pinned Down by His Stage Name
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Rank: 30 (tie)Â Â
Wrestler: Rey Mysterio  Â
# of Reigns: 1 ÂWe're not going to talk about how ridiculous the setup to his finishing move, "The 6-1-9," became. This is a happy list. Â
Also Read: WWE Star Dana Brooke Mourns the Death of Her Boyfriend Dallas McCarver: ‘You Were My Life’
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Rank: 30 (tie)Â Â
Wrestler: Stan StasiakÂ
# of Reigns: 1 ÂUnfortunately Stasiak only held the belt for nine days. Â
Also Read: Watch WWE Superstar John Cena Tear Up as He’s Surprised by Thankful Fans (Video)
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Rank: 30 (tie)Â Â
Wrestler: Rob Van Dam Â
# of Reigns: 1 ÂOne of the most popular ECW wrestlers of all-time, RVD has brought his three initials to seemingly every pro-wrestling promotion with three initials. Â
Also Read: ‘Stone Cold’ Steve Austin Is ‘Down With Anybody Using the Stunner’
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Rank: 30 (tie)Â Â
Wrestler: Ivan Koloff Â
# of Reigns: 1 ÂThe "Russian Bear" was actually Canadian. Â
Also Read: Lin-Manuel Miranda Makes Surprise Appearance at WWE SummerSlam
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Rank: 30 (tie)Â Â
Wrestler: Buddy Rogers Â
# of Reigns: 1 ÂRogers was kinda-sorta the first champion in the company. It's complicated -- ask Killer Kowalski and Bruno Sammartino. Â
Also Read: WWE ‘SummerSlam': Watch Braun Strowman Dump an Announce Table on Brock Lesnar (Video)
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Rank: 30 (tie)Â Â
Wrestler: Vince McMahon Â
# of Reigns: 1 ÂHell, Mr. McMahon runs the damn company -- of course he made this list. Â
Also Read: WWE SummerSlam 2017: 9 Things You Didn’t See on TV
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Rank: 16 (tie)Â Â
Wrestler: Drew McIntyre Â
# of Reigns: 2 ÂScottish Psychopath joined the WWE Champions' and two-timers club all in 2020.  Â
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Rank: 16 (tie)Â Â
Wrestler: Batista Â
# of Reigns: 2 ÂGuardian of the Galaxy, defender of WWE Championship. Â
Also Read: WWE Legend Ric Flair Hospitalized With ‘Tough Medical Issues’
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Rank: 16 (tie)Â Â
Wrestler: The Big Show Â
# of Reigns: 2 ÂYou can't miss this two-time champ -- not even in a mega-arena. Â
Also Read: Watch WWE’s Sasha Banks Transform Into a Flesh-Craving Ghoul (Video)
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Rank: 16 (tie)Â Â
Wrestler: A.J. Styles Â
# of Reigns: 2 Â"The Phenomenal One" held the belt for 371-straight days, which is a record for a "SmackDown" wrestler.  Â
Also Read: WWE Network to Launch in China
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Rank: 16 (tie)Â Â
Wrestler: Alberto Del Rio Â
# of Reigns: 2 ÂSi! Si! Si! Si! Si! Si! Si! Â
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Rank: 16 (tie)Â Â
Wrestler: Sycho Sid Â
# of Reigns: 2 ÂIt was a long way down from Shawn Michaels' former bodyguard's power-bomb. Â
Also Read: Eva Marie Says a ‘Bittersweet Goodbye’ to WWE
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Rank: 16 (tie)Â Â
Wrestler: "Nature Boy" Ric Flair Â
# of Reigns: 2 ÂIf you haven't watched ESPN's new "30 for 30: Nature Boy," do that. Oh, and look up Flair's ridiculous NWA runs too. Â
Also Read: Watch WWE Superstar Shinsuke Nakamura Drop John Cena Straight on His Head (Video)
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Rank: 16 (tie)Â Â
Wrestler: Sheamus Â
# of Reigns: 2 ÂMaster of the Brogue Kick, Rocksteady in the "Ninja Turtles" movies -- which is the greater accomplishment? Â
Also Read: WWE Takes on ‘Twin Peaks’ in Bizarre Parody (Video)
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Rank: 16 (tie)Â Â
Wrestler: Seth Rollins Â
# of Reigns: 2 ÂHe's BURN(ed) IT DOWN more than once. Â
Also Read: Paramount Recruits John Cena for ‘Bumblebee,’ Sets Release Date
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Rank: 16 (tie)Â Â
Wrestler: Yokozuna Â
# of Reigns: 2 ÂThat belt needed a few extenders to fit around the sumo. Â
Also Read: ‘Total Divas’ Star Carmella: WWE ‘Women’s Revolution’ Is Going Strong
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Rank: 16 (tie)Â Â
Wrestler: CM Punk Â
# of Reigns: 2 ÂLet's just say he was a little less successful in the UFC. Â
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Rank: 16 (tie)Â Â
Wrestler: Randy "Macho Man" Savage Â
# of Reigns: 2 ÂBefore he snapped into Slim Jims, the "Macho Man" was snapping dudes in half. Â
Also Read: WWE ‘SmackDown Live’ Commissioner Shane McMahon Walks Away From Helicopter Crash (Video)
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Rank: 16 (tie)Â Â
Wrestler: Bob Backlund Â
# of Reigns: 2 ÂBacklund couldn't "Make Darren Young Great Again" -- or even keep the guy employed -- but the master of the cross-face chicken wing had a pretty incredible career of his own. Â
Also Read: ‘Talking Smack’ Canceled as Weekly WWE Network Show
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Rank: 16 (tie)Â Â
Wrestler: Bruno Sammartino
# of Reigns: 2 ÂGoogle him, kids. Â
Also Read: Stephanie McMahon, Mark Giordano Among Winners at ESPN Sports Humanitarian Awards
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Rank: 13 (tie)Â Â
Wrestler: Mankind Â
# of Reigns: 3 ÂMick Foley nearly killed himself to raise these titles. Â
Also Read: ‘WWE Great Balls of Fire': Watch Samoa Joe Slam Brock Lesnar Through a Table (Video)
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Rank: 13 (tie)Â Â
Wrestler: Roman Reigns Â
# of Reigns: 3 ÂGo ahead and boo him, Universe -- WWE is still the Big Dog's turf right now. Â
Also Read: Austin Aries Released by WWE
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Rank: 13 (tie)Â Â
Wrestler: Shawn Michaels Â
# of Reigns: 3 ÂBefore he found God, the "Heartbreak Kid" found jaws with his foot, popularizing the Superkick. Â
Also Read: WWE Legend Jim Cornette Trashes ‘GLOW': ‘Hated It!’ (Audio)
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Rank: 9 (tie)Â Â
Wrestler: Daniel Bryan Â
# of Reigns: 4 ÂWelcome back, (current) champ. Â
Also Read: Roman Reigns Attempts to Kill Braun Strowman in WWE ‘GBOF’ Ambulance Crash (Video)
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Rank: 9 (tie)Â Â
Wrestler: Edge Â
# of Reigns: 4 ÂOn this day, you can see clearly... that Edge is one of the best to ever lace up. Â
Also Read: YouTube Stars, WWE Wrestler, PETA Pay Tribute to Actress Stevie Ryan
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Rank: 9 (tie)Â Â
Wrestler: The Undertaker Â
# of Reigns: 4 ÂThe Dead Man is truly a living legend. Â
Also Read: Trump Gets a DOJ Smackdown in Photoshopped WWE Clip (Video)
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Rank: 9 (tie)Â Â
Wrestler: Kurt Angle Â
# of Reigns: 4 ÂTop 10, it's true -- it's damn true. Â
Also Read: Trump vs CNN: POTUS Tweets Faked WWE Video of Himself Body-Slamming Network
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Rank: 7 (tie)Â Â
Wrestler: Brock Lesnar Â
# of Reigns: 5 ÂEat. Sleep. Win Titles. Repeat. Â
Also Read: LaVar Ball and Sons Take Over WWE’s ‘Monday Night Raw’ (Video)
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Rank: 7 (tie)Â Â
Wrestler: Bret "Hitman" Hart Â
# of Reigns: 5 ÂThe best there is, the best there was, and the best there ever will be. Â
Also Read: WWE’s Daniel Bryan on Everything He’s Doing to (Possibly) Return to Wrestling Action
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Rank: 5 (tie)Â Â
Wrestler: Hulk Hogan Â
# of Reigns: 6 ÂHulkamania was real. Then again, so was Gawker at one point. Â
Also Read: WWE’s Daniel Bryan on ‘MITB’ Opening Ladder Match Finish: ‘I Saw a Lot of Women Upset’
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Rank: 5 (tie)Â Â
Wrestler: "Stone Cold" Steve Austin Â
# of Reigns: 6 ÂOn the Mt. Rushmore of all-time greats, and that's the bottom line. Â
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Rank: 3 (tie)Â Â
Wrestler: The Rock Â
# of Reigns: 8 ÂHe may be Dwayne Johnson now, but he'll always be "The Rock" to us. Â
Also Read: WWE’s Austin Aries Teaches Us How to Have Awesome Facial Hair
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Rank: 3 (tie)Â Â
Wrestler: Triple HÂ Â
# of Reigns: 8 ÂBoss of The Authority has two words for the other guys on this list. We can't reprint them. Â
Also Read: John Cena Buries His Reputation for Burying Other WWE Talent: ‘They’re Not as Motivated’
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Rank: 2Â Â
Wrestler: Randy Orton Â
# of Reigns: 10 ÂThe Viper has RKO'd a lot of dudes outta nowhere. Â
Also Read: New WWE Champ Jinder Mahal on Resurrecting the Classic Villain: ‘It Always Works’
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Rank: 1Â Â
Wrestler: John Cena Â
# of Reigns: 13 ÂU Can't See Him. Â
Also Read: Ring of Honor Boss on How to Compete With WWE: Maybe You Don’t
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Who's next -- err, NXT? Â
Also Read: Brock Lesnar Has Extended His WWE Contract Through WrestleMania 35
From Buddy Rogers to Drew McIntyre, here are all the guys from the old WWWF and WWF days — and beyond
Pro-wrestling championship belts change hands (or waists) like grapplers change ring gear these days, though it wasn't always that way. Drew McIntyre is WWE Champion (again) these days after taking the strap back from Randy Orton during a mid-November "Raw" episode. Â
Scroll through our gallery to see every WWE Champion ever, ranked by their number(s) of title wins. Remember: this is a list of those who won the WWWF Championship, the WWF Championship or the WWE Championship. So don't come after us, Universal Champions, et al. Â
Below is a random sample from our full stable. Â
Also Read: John Cena on a Possible Return to Wrestling: ‘The WWE Does Not Need Me’
Tony Maglio
TV Editor • tony.maglio@thewrap.com • Twitter: @tonymaglio