WWE in rumours of sale to Saudi Arabia's Public Investment Fund following Vince McMahon's return

There has been no official word yet on the reports.

By Stephanie Chase

11 Jan 2023

WWE

Update: Reporter Ariel Helwani has stated on Twitter that "there is no deal in place" between WWE and Saudi Arabia's Public Investment Fund and that the company 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," Helwani tweeted. "The organization is still exploring all options, I'm told. Developing."

Original story follows: WWE is rumoured to have agreed a sale in principle to Saudi Arabia's Public Investment Fund (PIF).

Bodyslam reports claims from insiders that a deal hasn't been fully finalised, because there are certain obligations that it must first meet for a sale as a publicly-traded company. Its report adds that an agreement has been reached in principle.

WWE hasn't yet commented on the reports, or speculation that the company will be taken private again. It became a publicly-traded company in October 1999.

Speculation about WWE's sale comes just hours after Vince McMahon was elected Executive Chairman of the Board.

McMahon had announced his retirement last July, but remained the company's controlling shareholder. Last week he appointment himself to the company's board of directors alongside former co-presidents and directors, Michelle Wilson and George Barrio.

Michael N.TodaroGetty Images

Ahead of McMahon's election as Executive Chairman of the Board, his daughter Stephanie McMahon announced she had resigned from the company.

Stephanie had been serving as the company's chairwoman and co-CEO alongside Nick Khan, following her father's retirement.

In a statement posted to Twitter, Stephanie wrote: "About 8 months ago, I took a leave of absence and within a few weeks, unexpectedly had the opportunity of a lifetime.

WWE

"Our Founder, Vince McMahon, has returned as Executive Chair and is leading an exciting process regarding strategic alternatives. And with Nick's leadership and Paul 'Triple H' Levesque as Chief Content Officer, I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders.

"WWE is in such a strong position, that I have decided to return to my leave and take it one step further with my official resignation. I look forward to cheering on WWE from the other side of the business, where I started when I was a little kid, as a pure fan."

Since 2014, WWE has been promoting events in Saudi Arabia. Initially un-televised, the first Saudi Arabia PPV was the Greatest Royal Rumble in 2018.

The most recent WWE Saudi Arabia PPV was Crown Jewel in November 2022.

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