Mayweather Lands $20 Million WWE Payday, SmackDown Moves to MyNetworkTV
NEW YORK, NY – March 3, 2008 – In a landmark deal signaling a crossover between boxing and professional wrestling, Floyd Mayweather Jr. received a guaranteed $20 million from World Wrestling Entertainment to appear at WrestleMania 24 on March 30, 2008, at the Citrus Bowl in Orlando, Florida. Simultaneously, WWE announced a new broadcast home for it’s SmackDown program: MyNetworkTV, effective April 1, 2008.
The Mayweather agreement,reported in the March 3,2008,edition of the Wrestling Observer Newsletter,represents an unprecedented financial commitment by WWE to a non-wrestling athlete. The move aims to capitalize on Mayweather’s mainstream boxing popularity and draw a broader audience to the annual WrestleMania spectacle. SmackDown’s transition from Spike TV to MyNetworkTV reflects a strategic shift to reach a different demographic, potentially increasing advertising revenue and overall viewership.
Dave Meltzer, founder and lead writer of the Wrestling Observer Newsletter, detailed the financial terms of Mayweather’s contract, noting the significant risk WWE was taking on a single event appearance. The deal included a guaranteed payment nonetheless of the outcome of his scheduled match against “Big Show” at WrestleMania.
The move of SmackDown to MyNetworkTV followed a period of negotiation with Spike TV, ultimately resulting in a departure. MyNetworkTV, owned by News Corporation, sought to bolster its programming with established sports entertainment content, while WWE aimed for a network partner with greater promotional reach and potential for long-term growth. This change marked a importent moment in the history of SmackDown, previously a cornerstone of Spike TV’s programming lineup.
