Austin Theory won the 2022 Money in the Bank match. Photo: WWE
Austin Theory won the 2022 Money in the Bank match. Photo: WWE
Austin Theory won the 2022 Money in the Bank match. Photo: WWE
Austin Theory won the 2022 Money in the Bank match. Photo: WWE

Why WWE's Money in the Bank at The O2 in London is a big deal


Evelyn Lau
  • English
  • Arabic

The WWE is returning to the UK.

The pro wrestling company has announced The O2 in London will host Money in the Bank on July 1. It is the first time in more than two decades a WWE Premium Live Event (one that is shown on pay-per-view or on streaming services) will be held in the British capital.

“The O2 is one of the world’s premier venues and the perfect home for Money In The Bank. We are excited to bring one of our ‘big five’ events to the UK and look forward to welcoming the WWE Universe to London on July 1,” said Dan Ventrelle, executive vice president of talent at WWE.

The other WWE “big five” events include the Royal Rumble, WrestleMania, SummerSlam and Survivor Series — usually always hosted in the US. This is the first major event to be held in London since Insurrextion in May 2002 at Wembley Arena.

Ahead of the event, here’s what to know.

Why is it a big deal?

Until Clash at the Castle in Cardiff, Wales in September 2022, the WWE hadn’t held a major stadium event in the UK since 1992’s SummerSlam.

The special event was named in reference to Cardiff Castle and featured seven matches including the main event of a championship match between Roman Reigns vs Drew McIntyre. Its official attendance numbers at Principality Stadium hit 62,296.

Fans not only from the UK but also around the world travelled to Cardiff for the event.

After the event, there was a post-show press conference in which WWE's chief content officer Paul Levesque answered questions from the media including if the success of Clash at the Castle meant for more overseas tours.

“As far as the events go, when you put 62,000 fans going crazy like you had tonight in a stadium like this, it’s hard not to want to do it again. It’s hard not to want to do it in a lot of different places that I think we will get this same type of reaction to, so there are a lot of markets in the world, there are a lot of stadiums in the world, there are a lot of places," said Levesque.

“That’s the one thing about WWE, there is not a place on this planet, and I’ve been to most, [if not] all of them. I’ve been fortunate enough to, in my career, to go to all of them, there’s not a place on this planet that doesn’t know WWE, that WWE Superstars don’t go there and have fans all over them, and giving us this type of reaction. That is amazing.”

“We want to go see those fans, we want to get in front of them, we want to be in stadiums all around the globe doing this kind of event. Tonight was step one in that process, and I think you’ll see and hear a lot of announcements over the next few years that’ll be very exciting for everybody, and hopefully all of you have your passports and stuff, and can visit us there as well.”

What is Money in the Bank?

The event is held annually and usually has a men’s and women’s match.

In it, participants compete using ladders to retrieve a briefcase hanging above the ring. The first wrestler to grab the briefcase wins a contract that guarantees a championship match of their choosing at any time within the next year.

The first event was held at WrestleMania 21 in April 2005 before becoming its own event in 2010.

In 2017, the WWE held its first women’s Money in the Bank match, with Carmella winning it. She eventually cashed in her briefcase against Charlotte Flair to win the SmackDown Women’s Championship.

In last year's event, Austin Theory and Liv Morgan won their respective matches, with Morgan cashing in her briefcase to defeat Ronda Rousey to become the new SmackDown Women's Champion, while Theory finally cashed in on a losing effort to Seth Rollins for the WWE United States Championship in November.

Types of policy

Term life insurance: this is the cheapest and most-popular form of life cover. You pay a regular monthly premium for a pre-agreed period, typically anything between five and 25 years, or possibly longer. If you die within that time, the policy will pay a cash lump sum, which is typically tax-free even outside the UAE. If you die after the policy ends, you do not get anything in return. There is no cash-in value at any time. Once you stop paying premiums, cover stops.

Whole-of-life insurance: as its name suggests, this type of life cover is designed to run for the rest of your life. You pay regular monthly premiums and in return, get a guaranteed cash lump sum whenever you die. As a result, premiums are typically much higher than one term life insurance, although they do not usually increase with age. In some cases, you have to keep up premiums for as long as you live, although there may be a cut-off period, say, at age 80 but it can go as high as 95. There are penalties if you don’t last the course and you may get a lot less than you paid in.

Critical illness cover: this pays a cash lump sum if you suffer from a serious illness such as cancer, heart disease or stroke. Some policies cover as many as 50 different illnesses, although cancer triggers by far the most claims. The payout is designed to cover major financial responsibilities such as a mortgage or children’s education fees if you fall ill and are unable to work. It is cost effective to combine it with life insurance, with the policy paying out once if you either die or suffer a serious illness.

Income protection: this pays a replacement income if you fall ill and are unable to continue working. On the best policies, this will continue either until you recover, or reach retirement age. Unlike critical illness cover, policies will typically pay out for stress and musculoskeletal problems such as back trouble.

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Transmission: 7-speed auto

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Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

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The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

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Karwaan

Producer: Ronnie Screwvala

Director: Akarsh Khurana

Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar

Rating: 4/5

Match info:

Portugal 1
Ronaldo (4')

Morocco 0

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PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

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How Apple's credit card works

The Apple Card looks different from a traditional credit card — there's no number on the front and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Its attributes include quick sign-up, elimination of most fees, strong security protections and cash back.

What does it cost?

Apple says there are no fees associated with the card. That means no late fee, no annual fee, no international fee and no over-the-limit fees. It also said it aims to have among the lowest interest rates in the industry. Users must have an iPhone to use the card, which comes at a cost. But they will earn cash back on their purchases — 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card. Apple says it is the only card to provide those rewards in real time, so that cash earned can be used immediately.

What will the interest rate be?

The card doesn't come out until summer but Apple has said that as of March, the variable annual percentage rate on the card could be anywhere from 13.24 per cent to 24.24 per cent based on creditworthiness. That's in line with the rest of the market, according to analysts

What about security? 

The physical card has no numbers so purchases are made with the embedded chip and the digital version lives in your Apple Wallet on your phone, where it's protected by fingerprints or facial recognition. That means that even if someone steals your phone, they won't be able to use the card to buy things.

Is it easy to use?

Apple says users will be able to sign up for the card in the Wallet app on their iPhone and begin using it almost immediately. It also tracks spending on the phone in a more user-friendly format, eliminating some of the gibberish that fills a traditional credit card statement. Plus it includes some budgeting tools, such as tracking spending and providing estimates of how much interest could be charged on a purchase to help people make an informed decision. 

* Associated Press 

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