Since the death of Chris Benoit and other wrestlers, the whole wrestling community is taking another look at steroids. It’s not necessarily if a wrestler is or isn’t taking the drug, but whether they got them legally or not seems to be the focus.
WWE has suspended 10 wrestlers that were in violation of steroid use. It’s not clear if it’s because these guys obtain them illegally or if they just had them in their system. I would imagine any wrestler getting suspended from a legal use of the drug would be grounds for a law suit. I’m sure the WWE took that into consideration before handing down the suspensions. They are going about it in a fair way. Your first offense will result in 30 days of suspension with no pay. The 2nd offense would be 60 days with the same terms. The 3rd offense or 3rd strike, then the wrestler would be fired from the WWE.
So much attention has been brought up about wrestlers that use steroids. It is probably something that the WWE needs to do and steroids aren’t needed in wrestling like other sports. Other professional sports you are graded on your physical talents and steroids can help that in some cases. Wrestlers are using less physical abilities to work their way up the ladder and it’s more like a scripted show than what other professional athletes have to deal with. Wrestling is a tough sport and you do have to be in shape. Don’t get me wrong wrestlers, I know that what you do inside the ring takes amazing physical ability and you do get your bruises along the way. It’s just the fact that wrestlers could achieve their goals easier than other sports people, because they can have more of a niche than actual physical strength to succeed.
The 10 wrestlers that were suspended have not been named yet. Not sure if the public will get that information or not, but I think a lot of folks will stand behind the WWE on their policy for steroids. It’s a fair one and they have the power to test wrestlers 4 times a year. The WWE will not have to go through what baseball has had to go through over the last few years, because of their willingness to take things into their own hands. Baseball was crippled by the players union so badly, it took an act of Congress to step in and get them on the right track.
WWE stock will get attention the next few weeks, because of this announcement on steroids. Don’t be surprised if investors take this stock to the 21 dollar level by March of 2008. It’s a 14 dollar stock now and I see this stock increasing 50 percent over the next 6 months, as long as this does not become a pattern of suspending wrestlers. So I have no problems in adding WWE to the portfolio and taking advantage of the up-swing that this stock could take over the next few months.