The announcement that WWE has acquired Mexican lucha libre promotion AAA during the WrestleMania kick-off show will change the wrestling landscape. Some are excited about this decision, but others will watch intensely and anxiously because of history. WWE’s history of acquisitions and expansion is both legendary and controversial.
There’s the potential for a mixture of positive and negative outcomes, unforeseen consequences, and ripple effects. In another article, I will examine the optimistic possibilities and potential for the WWE/AAA union and how both promotions can benefit. Yet, as a student of history, I, like many fans, am prepared for the worst-case scenarios.
The British wrestling scene is still recovering after NXT UK. WWE’s outsourcing of its wrestlers onto big indie cards takes opportunities from independent wrestlers. Most significantly, when WWE bought the territories and WCW, it limited wrestlers’ and fans’ options.
A common fear with WWE’s increasing use of partnerships is the concern that the long-term goal is a global wrestling monopoly. As Super Lucha’s Editor-in-Chief, Ernesto Ocampo’s wrote on X:
“The acquisition of #AAA by #WWE is perhaps the worst news there could be for Mexican #LuchaLibre. A predatory machine is looming not only over an industry, but over an entire expression of popular culture.”
Ernesto Ocampo, translated using Google, X.
Still, it’s worth considering that WWE could harm itself as well.
1. Respecting Tradition?
An initial red flag was Triple H highlighting WWE’s respect for lucha libre tradition. AAA has never been traditional. AAA took inspiration from WWE in its formation.
The promotion purposefully sought to modernise lucha libre. AAA pushed the boundaries, spilled blood, relied on big and at times excessive gimmick matches, and has a six-sided ring.
The implication of respecting tradition might make some question WWE’s intentions. Triple H may have been talking generally about lucha libre wrestling. Yet, if WWE intends to shift AAA’s in-house style to a more traditional lucha libre flavour, there are two risks.
First, if WWE moves AAA towards a more traditional lucha libre style, it doesn’t differentiate AAA from its main competition. Tradition is the core of AAA’s competition and AEW’s partner, CMLL.
Currently, CMLL reigns as the number one promotion in Mexico. Alternatively, if WWE asserts its vision of “traditional” lucha libre on AAA, there’s the risk of creating an inauthentic, diluted version of a unique cultural wrestling style.
Yet, tradition also extends to the business aspects of wrestling in Mexico. It’s an entirely different set of procedures, processes, and systems to run a wrestling event in Mexico. Considering how, during territorial expansion, if WWE disregards traditions, there’s the risk that WWE, over time, might attempt to rewrite how lucha libre operates in Mexico.
Nonetheless, attempting this could cause more than bad PR.
2. WWE Destroys Its Reputation in Mexico
Many American fans love El Grande Americano. In Mexico, the gimmick has been received poorly, damaging perceptions of WWE.
Referencing Ernesto Ocampo again, Mexican fans feel disrespected:
“This is an insult on many levels, both to Mexican wrestling and to Mexico. They could have left out the ‘Gulf of America’ part and tried to write the character’s name in proper Spanish,”
Ernesto Ocampo, X.
WWE hasn’t cracked the Mexican market despite recent impressive gates. WWE only runs shows infrequently in Mexico. If WWE mismanages AAA and disrespects the culture of lucha libre, it might burn out Mexican fans’ interest in the WWE product.
Politically, Mexico feels threatened by its northern neighbour. Tariffs and threats of annexation have stirred national feelings and resentment towards the US.
Over the WrestleMania weekend, prominent figures, like Triple H and Roman Reigns, shared positive sentiments towards President Trump. The president is a part of the WWE Hall of Fame. The company has strong ties to the president. Owning a Mexican wrestling company at this challenging political time, WWE will have to tread carefully.
Otherwise, the type of heat WWE generates with Mexican fans won’t put buts in seats but see boycotting. As highlighted by LuchaBlog, a national desire to protect lucha libre could see the Mexican government intervene.
3. AAA Becomes NXT Mexico
AAA is not in a strong creative or financial position. Wrestlers are not signed to exclusive contracts, and while there are a few notable names like El Hijo Vikingo, who are draws for the company, this isn’t an asset-rich company.
AAA is more akin to the last years of WCW than ROH. LuchaBlog describes AAA as being “booked as if by an arsonist”. The company is not in good shape, and WWE will have to rebuild and reestablish AAA.
Many fans’ worst fears are that AAA will repeat the NXT UK model in two ways. First, WWE signs various young Mexican wrestlers, eradicating the smaller independents beneath CMLL and AAA. Second, AAA stylistically becomes a homogenized version of lucha libre.
The picture of El Hijo del Vikingo and Triple H resulted in cynical jokes about Vikingo learning to work the hard cam and doing ten-minute headlock spots for heat.
4. Luchador Segregation
In the optimistic counterpart of this article, I’ll discuss how AAA could help the wrestling giant address its issues with lucha representation. Particularly with integrating and finding ways to get Hispanic wrestlers over who struggle with the language barrier. At worst, AAA could give WWE an option to move the problem rather than solve it.
Various Hispanic wrestlers stood around Triple H during the announcement. Many weren’t booked on WrestleMania.
Many aren’t frequently used or featured in storylines, or when there are storylines, they exclusively feud with other Hispanic wrestlers. WWE could send many of them to AAA, where they could remain.
Some would remain or could return to the main rosters over time, but those who get pushed historically are those wrestlers who can cut promos well in English. It gives WWE an option not to find new ways to get Mexican wrestlers over.
This would risk alienating Hispanic wrestlers and fans by placing an artificial ceiling on their chances for career progression. Some wrestlers, who perhaps dreamed or were sold on competing in “the big league” and “WrestleMania,” find or believe they will be geographically restricted, which could impact WWE’s recruitment abilities.
5. An Expensive Failure
AAA will require a significant financial investment. WWE and TKO Holdings are making record profits, and discussions over the costs vs. income generated by NXT and/or NXT UK can be tricky and tribalistic. With a strong TV deal and success touring, expenses would be reduced.
Nonetheless, if WWE’s creative and business decisions create difficulties that limit their ability to make profits and the AAA becomes a burden, how long will TKO Holdings let the experiment continue? Right now, WWE is still enjoying commercial success, although critically, it feels like the wave has reached its peak.
Before merging with WWE to form TKO Holdings, Endeavour had a reputation for cost-cutting and saving money. When The Pandemic meant NXT UK became difficult to run, they shut down operations.
If AAA becomes a financial drain and burden, regardless of whether WWE sees a dip in its general profitability, there will be a time limit. If Triple H’s dream of international regional territories becomes too costly, the experiment may fail, halting the prospect of a WWE monopoly and further international expansion.
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