Manik Aftab on January 10, 2023
Vince McMahon’s shocking return to WWE set things in motion for the future trajectory of the company. The billionaire has been trying to sell WWE for quite some time to some of the biggest investors in the world, including Saudi Arabia. The latest report going around is that the deal is finally done to sell the company to the Kingdom of Saudi Arabia.
Vince McMahon’s return to WWE saw Stephanie McMahon’s exit and the company’s potential sale. As majority shareholder, Vince McMahon made it clear that he wouldn’t approve any media rights deals unless he regained power.
Cassidy Haynes of BodySlam.net provided the latest update on Saudi Arabia’s bid to acquire the world’s largest and most successful wrestling promotion. According to the report, WWE has been sold to Saudi Arabia’s Public Investment Fund.
Sources have told me that World Wrestling Entertainment has sold the company to the Saudi Investment Fund. Vince McMahon was placed back on the board of directors, with many under the belief that Vince was looking to sell the company. Now, that’s become a reality. Not only that, but the public company is now going private under the new ownership.
The company under the new regime will reportedly go private and that could change a lot for everything, including the road to WrestleMania, and all the employees currently under WWE’s roof.
Stephanie McMahon just got started in her new role as co-CEO, but then her father pulled a ruthless business move and found his way back. Now Vince McMahon is Chairman of the Board of Directors once again. Now, it seems that the company will have new ownership, perhaps by the time the road to WrestleMania 39 even begins.
Keep checking back here at Ringside News as we continue monitoring this ongoing situation.
What’s your take on this situation with Vince McMahon and WWE? Sound off in the comments!
January 10, 2023 10:55 pm
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