Wrestling legend says Kevin Owens getting a multi-million dollar contract is because of "war" between WWE and AEW

Kevin Owens has been in the headlines recently following reports of him signing a lucrative new contract with WWE. The deal is rumored to be between $2-3 million dollars, making Kevin Owens one of the highest-paid stars in the company. Wrestling legend Jim Cornette gave some new insight into how it could have far-reaching consequences.

WWE had to deal with negative press since April 2020, when they began a mass talent release. The sad reality is that only the talent got the headlines, while many people working backstage and in the office were also laid off. But Vince McMahon has shown no concern in letting superstars go to AEW - something that has made Tony Khan's promotion stacked with a star-studded roster that keeps growing.

Jim Cornette, speaking on the Jim Cornette Experience podcast, said that with WWE letting Bryan Danielson, fka Daniel Bryan leave and failing to convince CM Punk to return, they should worry about AEW. He also explained why WWE offered Kevin Owens such a lucrative contract (H/T ITR Wrestling):

“I’m not trying to knock him here, I’ve always said that Kevin Steen [Owens] could work and he could talk, it’s how he has been booked, which is not his fault. Kevin Steen is getting $2-3 million a year and that indicates 2 things. 1) There is a shortage of talent to begin with. 2) The WWE is embarrassed by just having difference-makers handed over on a silver platter to the other side. 3) We are back in a promotional war.”

He further explained that with all the talent released, WWE now has more money to retain certain stars:

“If Kevin Steen is worth $2-3 million a year then what are they giving Roman Reigns? 15-20? They are doing what they started doing 2 years ago, which was upsetting their salary structure, but now they are really upsetting their salary structure because they have to offer more money than they did before to get people to stay.”

Cornette said that "for once," he believes Tony Khan made the right decision by letting WWE keep Kevin Owens if he was in a bidding war with them, and the figure went up that high.

He explained that WWE might be trying to see if Tony Khan becomes the "modern" Eric Bischoff - by adding so much talent that the payroll becomes unsustainable.

Did Kevin Owens benefit from the tricky situation?

WWE offering Kevin Owens a lucrative contract shows that they see good value as a superstar - let alone giving him such a high figure. He undoubtedly deserves it, but one must wonder how differently things would have gone had there never been a mass release.

Either way, Kevin Owens seems happy with his decision to stay with WWE - a promotion he has been signed to for over seven years now.

It must be noted that although superstars sign multi-year WWE deals, they are essentially 90-day contracts that get automatic renewals unless the company decides to cut them.