Paul Heyman just gave another major piece of ECW history, and this one involves Shane McMahon wanting to buy the whole thing.
During his interview with Chris Van Vliet, Heyman addressed the long-running stories about WWE money and ECW. He said there were only three real payments from WWE connected to ECW, including a weekly payment, a secured loan, and a late 2000 payroll-related payment while WWE looked at the company’s books.
Heyman said the December 2000 situation came when things were dire for ECW. The company had lost TNN, money from In Demand was only trickling in, and WWE wanted to examine the books because Shane McMahon wanted to buy the company. Heyman then said Shane wanted ECW as its own separate operation.
“At the very end, Christmas week 2000, when everything was dire. We had lost TNN. The money is now trickling in from In Demand. Now In Demand wants eight pay-per-views in 2001. We don’t even have national television. WWE says let’s look at the books because Shane wanted to buy it.”
“So Shane wanted to buy ECW and run it on its own.”
But Vince McMahon saw a different value play. Heyman said the money sent during that period helped ECW make payroll while WWE looked things over. He also shut down the larger rumor that WWE was secretly funding ECW the whole time.
“Vince said it’s easier just to let it go into bankruptcy and we get Heyman. Shane still pushed and pushed and pushed.”
“So for the accountants to take a look at all the books and to buy us the time not to be pulled into an involuntary bankruptcy by somebody, we were loaned $83,500 to make payroll that week so that we can survive the week for WWE to look at the books.”
“There was no other payments made by WWE. There was no other secret funding. And this is all a matter of public record because it was a publicly traded company by this time. And it’s all there and it’s all in the bankruptcy papers. But never let the truth get in the way of a good story.”
When asked why Shane didn’t end up buying ECW, Heyman said Vince wanted him inside WWE instead of outside it. Heyman compared the move to Apple buying Beats for Jimmy Iovine, saying Vince wanted the person attached to the company as much as the ECW assets.
“Vince found it more valuable to have me in the, as Vince would say, ‘I’d rather have Paul Heyman in the castle pissing out than out of the castle pissing in.’”
“Apple didn’t need Beats. Apple wanted Jimmy Iovine. Vince McMahon was tired of me being out on my own, being an independent, doing my own thing. Decided we need Heyman and wanted Heyman involved.”
According to Heyman, the ECW library and assets had to be secured, but the real prize was getting him into WWE’s system.
“And to get Heyman, you had to at least secure the assets of ECW or promise the bankruptcy court to secure the assets of ECW so that there’s a curator for our library. And along with that comes Paulie.”
That is a wild alternate history. Shane McMahon wanted ECW alive as its own company, but Vince McMahon made the call that getting Paul Heyman inside WWE was the better move.
What do you think would have happened if Shane McMahon actually bought ECW and ran it separately? Drop your thoughts in the comments and let us know.
