Shortly after Stephanie McMahon announced she would be stepping down as CEO following her disgraced father Vince McMahon‘s return to the World Wrestling Entertainment as Executive Chairman of the Board, the world’s largest professional wrestling company is in the process of being sold to the Saudi Arabia Public Investment Fund (PIF). For those unfamiliar, the sovereign wealth fund of Saudi Arabia has a major investment in Formula 1, started the LIV Golf professional golf tour, and initiated a takeover of the Premier League’s Newcastle United club.
Despite the reports, the Saudi Arabia Public Investment Fund’s purchase of the WWE is not final just yet. As a publicly-traded company, the WWE must deliver SEC filings and share a public offer price for shareholders. Before word of the PIF stepping up as the leading party to purchase the company, the sale of the WWE was rumored to be going to Comcast, Disney, UFC parent company Endeavor Group Holdings, and more. Ultimately, the sale of the WWE to the PIF will need to go through months of development before being finalized.
Stay tuned for more details regarding the potential sale of the WWE.
Worth noting that the original tweet stating it was a done deal has since been deleted.
— Ariel Helwani (@arielhelwani) January 11, 2023
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Then. Now. Forever. Together. pic.twitter.com/8dqr5reIiv
— Stephanie McMahon (@StephMcMahon) January 10, 2023
In case you missed it, Dwayne “The Rock” Johnson is rumored to make his return to the WWE at Royal Rumble 2023.
Tagged: Sports