Trump to lose money on Miss USA, says network chief

The cable network hosting Donald Trump’s Miss USA competition said on Thursday the GOP presidential candidate is not profiting from the event.

Reelz CEO Stan Hubbard said Trump is taking a loss on the annual beauty contest, according to TMZ.

{mosads}“Trump is not going to profit from what we’re paying,” Hubbard said of the event, which Trump co-owns.

“What we’ve agreed to pay doesn’t even dent the cost of production,” he added.

The beauty pageant was going to be televised on NBC, but the broadcast network severed its ties with Trump on Monday following his controversial remarks on Hispanic immigrants two weeks ago.

“They’re sending people who have a lot of problems,” Trump said of Mexico in remarks made at his campaign launch from Trump Tower in New York City two weeks ago.

“They’re bringing drugs. They’re bringing crime. They’re rapists,” he said. “And some, I assume, are good people.”

Hubbard said on Thursday that his network is airing the Miss USA contest as it is entertainment rather than a political event.

 Its participants, he added, should not be punished for Trump’s remarks.

Hubbard also said that event organizers are searching for a Hispanic host for the telecast.

Cristian de la Fuente, a Chilean actor previously linked to the event, disavowed it over Trump’s remarks on June 25″

“Mr. Trump, as a Latino, I cannot work in an event associated with your name,” Fuente said.

“The statements you made against Mexicans and immigrants show that you are ignorant,” he said.

“It is a shame that such an important institution as Miss USA is in the hands of a clown,” the “Devious Maids” actor added.

Rapper Flo Rida also backed out of the event on Wednesday, cancelling his scheduled appearance during its evening gown competition.

Hubbard added on Thursday that Reelz’s broadcast plans on airing a series of PSAs on “Hispanic non-political causes” in the wake of Trump’s remarks.

His network plans on broadcasting the event on July 12.

This story was updated at 2:58 p.m.