It has been suggested that Saudi Arabia's Public Investment Fund could be a potential buyer for the WWE, following the return of Vince McMahon to the company. According to Front Office Sports, the Fund is "emerging as a possible bidder" should the WWE decide to sell. It is not an implausible possibility, as WWE events in Saudi Arabia since 2018 have generated $400 million for the company, more than the ticket revenue of all 38 WrestleManias combined. The WWE is already in the midst of a 10-year deal with Saudi Arabia.
Reports last month from The Wall Street Journal indicated that McMahon was considering a return to the WWE and on Thursday it was announced that he was planning to force his way back into the company with the intention of selling. McMahon has now officially announced his return and has reinstated himself to the WWE Board of Directors. While the official press release stated that a sale of the company is not guaranteed, it is believed that media rights negotiations and a potential sale are at the top of McMahon's agenda.
During a meeting with WWE employees on Friday, it was assured that McMahon's return will not affect the roles of co-CEOs Stephanie McMahon and Nick Khan, or WWE creative, "at this time." It is worth noting that the WWE has not confirmed any talks or negotiations with Saudi Arabia's Public Investment Fund or any other potential buyers. It is simply speculation at this point. However, the strong financial relationship between the WWE and Saudi Arabia, combined with McMahon's recent return to the company and stated goal to "maximize value for all WWE shareholders," has led to speculation that a sale could be on the table.
WWE has had a controversial history with its events in Saudi Arabia, including the 2018 Crown Jewel event which faced backlash following the murder of journalist Jamal Khashoggi. Despite this, the events have proven to be extremely lucrative for the WWE. In addition to the significant financial gain, the WWE has also faced criticism for its partnership with Saudi Arabia due to the country's human rights record.
It remains to be seen what the future holds for the WWE and whether a sale, potentially to Saudi Arabia's Public Investment Fund, will be part of the company's plans. For now, all we can do is wait and see what developments may come.
Comments / 2