UPDATE: It has since been reported that the deal with Saudi Arabia has not been finalized and WWE is exploring all options. You can get more on that here.
It’s been an eventful week for WWE as Vince McMahon returned to the WWE Board of Directors and it was revealed today that he was unanimously elected Executive Chairman of the Board. Stephanie McMahon also announced that she has resigned from her position as Co-CEO and Chairwoman of WWE, and she issued a statement saying that she will be enjoying WWE from the other side of the business.
Last week it was reported by the Wall Street Journal that Vince McMahon was returning to WWE to sell the company, and now it seems that McMahon may have found a buyer.
Cassidy Haynes of Bodyslam.net is reporting that sources have told him WWE has been sold to the Saudi Arabia Public Investment Fund. It’s also being reported that the current plan moving forward is for WWE to become a private company once again.
For what it’s worth, I’m told the Saudi deal is done and they’re taking the company private.
— Cassidy Haynes of Bodyslam.net (@Casshooole) January 11, 2023
It’s worth noting that Steven Muehlhausen of DAZN is also reporting that WWE has been sold to the Saudi Arabia Public Investment Fund and the company will be going private.
Sources: #WWE has been sold to
Saudi Arabia’s Public Investment Fund. The company will go back to being private. Unknown if Vince McMahon will return to head of creative but it is expected by some people.— Steven Muehlhausen (@SMuehlhausenJr) January 11, 2023
WWE has had a relationship with Saudi Arabia for a few years now as the company has been bringing two premium live events per year to Saudi Arabia since 2018, and the company has reportedly made $400 million from the Saudi Arabia events.
At this point WWE has not confirmed the sale. Stay tuned for more updates as they become available.
