According to the rumour mill, it looks like the WWE is being sold to Saudi Arabia. Some media reports and sources are stating that the professional wrestling company is in talks to be sold to Saudi Arabia’s Public Investment Fund.
This news comes after Stephanie McMahon announced her resignation from the company and her father Vince McMahon returned as Chairman of the Board. Stephanie had earlier shared CEO duties with Nick Khan, who is now the lone CEO of WWE. However, Stephanie’s husband and former WWE champion Paul ‘Triple H’ Levesque will continue in his role as the CCO (Chief Content Officer) of the company.
The end of the greatest rivalry! 🙏
— 2000's WWE (@2000s_WWE) January 12, 2023
More details about WWE’s rumoured sale to Saudi Arabia
In a now-deleted tweet, on January 10, Steven Muehlhausen of DAZN reported that WWE had been sold to Saudi Arabia’s Public Investment Fund and that it would go back to being a private company rather than a publicly traded one.
While WWE hasn’t made any official statements yet, according to journalist Ariel Helwani, the American wrestling company currently has no plans of being sold to Saudi Arabia as it is “still exploring all options.”
Contrary to reports stating otherwise last night, there is no deal in place at this precise moment for WWE to be sold to Saudi Arabia’s Public Investment Fund or any entity, sources say.
The organization is still exploring all options, I’m told. Developing.
— Ariel Helwani (@arielhelwani) January 11, 2023
Sportscaster Jon Alba also took to Twitter to end the rumours about the sale of WWE.
Well, finally got something much more firm.
A high-ranking #WWE source with knowledge of the situation tells me reports of a sale or agreement to sell at this moment are “completely false.”
— Jon Alba (@JonAlba) January 11, 2023
On January 11, TMZ Sports also confirmed that WWE’s sale to Saudi Arabia was just a rumour.
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WWE has been in the news lately for all the wrong reasons. In July 2022, WWE owner Vince McMahon resigned as chairman after the company launched an investigation against him for sexual misconduct, according to Business Today. In another report, The Wall Street Journal stated that McMahon had paid over USD 12 million to four women associated with the company to cover up claims of sexual misconduct and infidelity for over 16 years.
Earlier this week, CNBC’s Alex Sherman tweeted about a potential sale by stating that WWE had hired JPMorgan to advise it on its financial dealings. He also listed companies such as Comcast, Fox, Disney, Warner Bros. Discovery, Netflix, Amazon, UFC owner Endeavor Group Holdings and Formula One owner Liberty Media to have shown some interest in purchasing the wrestling company.
(Hero and feature image credits: Courtesy Instagram/ WWE)