Everything you need to know about the latest rumours claiming WWE is being sold to Saudi Arabia’s Public Investment Fund, and find out whether it is sold or not.
WWE recently made news when it was reported that the company was being sold to Saudi Arabia’s Public Investment Fund. The news broke when Stephanie McMohan stepped down as co-CEO of WWE after her father made a surprise comeback to WWE and was subsequently voted as the new chairman of the board by WWE’s executive board members.
Is WWE sold or not to Saudi Arabia Public Investment Fund (PIF) and for how much money will it sell
At 77, time for me to retire.
Thank you, WWE Universe.
Then. Now. Forever. Together. #WWE #thankful— Vince McMahon (@VinceMcMahon) July 22, 2022
According to reports, Vince McMahon, a majority stakeholder in WWE, has chosen to revert the business from the public stock market to a private corporate entity. In this post, we’ll look at WWE’s links with Saudi Arabia’s Public Investment and see if rumours of WWE being sold to Saudi Arabia’s sovereign wealth fund are true.
WWE links with Saudi Arabia’s Public Investment Fund
Vince McMahon made his surprise comeback last week and subsequently was elected as the new chairman of the WWE’s board by its executive members. Soon after, Vince McMahon’s daughter resigned as co-CEO of WWE and news regarding WWE’s new ownership started to round up. Since Stephanie McMohan’s resignation and Vince again taking over the charge of WWE, reports have suggested that the Saudi Arabia Public Investment Fund has purchased the Stamford-based company. However, neither party has confirmed these rumours.
Following this, TMZ Sports confirmed late Wednesday afternoon that rumours that the Saudi Arabian Public Investment Fund had already purchased the WWE were untrue. According to Jon Alba, a well-known sportscaster, rumours concerning an agreement between WWE and Saudi Arabia’s Public Investment Funds are absolutely incorrect, and WWE has also not made any official announcement on the subject.
While the company is not sold as of now, it will land a gargantuan deal with WWE currently valued at $6.7 billion.
It was previously reported that PIF is keeping a close watch on acquiring WWE, and Vince McMahon, the biggest stakeholder of WWE, has already stated that he is trying to sell off shares of his company. WWE events have been televised in Saudi Arabia since 2018, and PIF is the same organisation that owns LIV Golf. However, due to Saudi Arabia’s severe restrictions, it is unlikely that WWE performers, particularly women wrestlers, will agree to the deal.