Source: The Wrestling Observer Newsletter

As far as Ricky Steamboat and WWE are concerned, we're told he's no longer working full-time for the company but was not released. Steamboat has been working under a Legends contract in recent months but has been attending TV tapings and working as a producer/agent. Normally, a WWE Legends contract pays around $10,000 per year.

With that being said, Steamboat's regular job as a brand ambassador was eliminated due to the ongoing budget cuts. That is the reason for the "Ricky Steamboast Released" reports. There was a little confusion and we sincerely apologize for that.