WWE Being Sold To The Saudis And Going As Private Company? – There are significant rumors going around on the potential sale of WWE. The rumor is that WWE is being sold to the Saudis, and that WWE will go back to being a private company.
It was noted by Steven Muehlhausen that WWE sources say the company has been sold to Saudi Arabia’s Public Investment Fund, and that the company will go back to being private. Muehlhausen added that some people are speculating on a return to creative by Vince McMahon, who was named the Chairman of the Board earlier this afternoon.
Furthermore, Sean Ross Sapp and others have confirmed that the rumor is going around sources. It’s important to note how Sapp added that what he’s heard is not actual information to indicate the sale is happening past a few vague hinting messages coming from people outside of WWE, and that WWE contacts have claimed to not know what the hints were about.
Sapp reiterated that the “hot rumor” has Saudi buyers interested in purchasing WWE, and that the company will go private once the sale is done.
Several others, including Dave Meltzer and Bryan Alvarez of F4Wonline, have indicated that major news may be announced imminently. Cassidy Haynes of Bodyslam reported that the sale is done and WWE will be going private. It’s currently a little after 7am in the Kingdom of Saudi Arabia, so we could know something official soon, if the sale happened that quickly.
It must be noted that for now, this is strictly a rumor and should be taken as that until something is officially announced or confirmed by sources. Again, the Saudis purchasing WWE is just a rumor as of now.
The potential WWE sale could be similar to the LIV Golf organization, which is a professional golf tour that is financed by the Saudi’s Public Investment Fund, the sovereign wealth fund of the Kingdom. The golf tour is seen as an attempt by the Kingdom to improve its public image. The announcement on the Saudi’s involvement led to a lot of bad press for the golfers involved, but there was a lot of big money involved and as we know, money talks.
As we’ve noted, Vince recently returned to the Board of Directors to lead a sale of the company, and JPMorgan was hired to lead those talks. Stephanie McMahon announced her resignation this evening, and then it was announced that Vince was unanimously elected as the Chairman of the Board once again, with Nick Khan acting as the sole CEO.
WWE Being Sold To The Saudis And Going As Private Company?
