How TKO Is Approaching Veteran Contracts Amid Sheamus’ Reported Departure

For the first time in nearly two decades, Sheamus is set to be a free agent.

The multi-time World Champion removed all mention of WWE from his social media accounts and changed his name to S. Farrelly after news broke Sunday afternoon that he would soon be departing the company. His profile has also now been moved to the alumni section of WWE's website.

Sean Ross Sapp with Fightful Select reported that WWE approached Sheamus about a restructured contract extension while he was out with an injury, and The Celtic Warrior "swiftly rejected" their offer.

It's also being reported that his deal was nearing its expiration date at the time he was approached about signing a new one, so there wouldn't have been much point in releasing him and making him sit out a 90-day wait period.

Sheamus' imminent departure comes as The New Day are inching closer to becoming free agents. Kofi Kingston and Xavier Woods, now known as Kofi and Austin Creed, were approached earlier this year about restructuring the five-year contract extensions they signed in 2025. Both men were ultimately granted their release in what was described as a mutual separation.

All three of these men were seen as "WWE lifers" by many, which made the news of their pending free agency incredibly shocking. But parent company TKO operates very differently from the prior regime.

TKO reportedly approaches talent contracts like an NFL franchise

The week after WrestleMania has become one of nail-biting and nervous pacing for many members of the WWE locker room. More than two dozen wrestlers were released from their contracts, or informed that their deals would not be renewed, back in April as part of annual budget cuts ordered by TKO executives.

It's a cruel part of the business, and this doesn't make it right, but the way TKO operates is not dissimilar from other sports leagues across the globe. The ownership group of a team or franchise sets the budget, and it's up to management to put together the best roster possible.

Dave Meltzer of the Wrestling Observer, however, says that doesn't mean that the company is unwilling to spend big money.

.@WWESheamus was INSANE for this 😱 pic.twitter.com/rpjf9miRgw
— WWE (@WWE) September 4, 2025

“The TKO thing, from talking to people there on this and other situations is they are willing, very willing to pay really really, really giant money to people who they perceive as the stars," Meltzer said on Wrestling Observer Radio.

It's not an apples-to-apples comparison as there is no salary cap in professional wrestling, but TKO clearly has a certain number they just aren't willing to meet when it comes to some of their longest-tenured veterans.

“When it’s older wrestlers who they perceive as being on their downside and have big contracts, they’re very much like a NFL team that will go, rather than pay a guy a giant salary who’s on the downside, we would rather spend our resources on somebody younger, who also we can pay less too," Meltzer said.

Sheamus, currently 48 years old, keeps himself in tremendous shape and has proven time and again that he can still produce banger after banger after banger. He should have significant interest on the open market, but there's been no report of him having contact with any other promotions at this time.

He'll depart WWE having accomplished nearly everything there is to do in the company, save for winning the Men's Intercontinental Championship.

He's been out of action with a shoulder injury since the fall. His final match came back on November 17, 2025, when he teamed up with John Cena in what was his final match on the Red Brand.

Add us as a preferred source on Google