2023 has already been one of the most insane years in professional wrestling history, and everything is circling around Vince McMahon. Following his 2022 retirement, he would return to kick off the new year. He would rejoin the Board of Directors, and would be unanimously elected as the Executive Chairman of the Board. This would result in Stephanie McMahon exiting the company, leaving her position as co-CEO, putting Nick Khan in a full CEO position. Now, all of these moves make sense – as something that has been rumoured for the past few years might have finally happened, that being the sale of WWE as a company.
Reports Indicate Saudi Arabia PIF As The Buyers Of WWE For 6.3 Billion Dollars
In the past few days, one of the major brewing stories involved Saudi buyers being the front running group to buy the company, with a reported 6.3 billion dollar bid. This would be the The Public Investment Fund – aka PIF, who control $620 billion in assets. WWE and the Kingdom of Saudi Arabia have been working closely together due to a 10-year deal to run major events in the country, which could have been the start of potential talks for them to simply purchase the company as a whole.
Cassidy Haynes of BodySlam.net would report the following at 10:11PM EST following an hour of vague reports about a sale.
“For what it’s worth, I’m told the Saudi deal is done and they’re taking the company private.”
WWE became a publicly traded company in 2000, being privately owned by the McMahon Family and Titan Sports before that time.
The Biggest Story In Professional Wrestling History
The impact of this news is simply impossible to predict at this time. With the company going private, there is no telling what this could mean for their general direction – or how much power Vince McMahon will gain out of this deal. All we know at this time is that WWE might have just been sold, and the rest will come in the following days.
This is perhaps the biggest story in professional wrestling history, perhaps even larger than when WWE purchased WCW in 2001. We will likely see some talent request their release, with the most notable names that come to mind being Kevin Owens & Sami Zayn – who refused to work the shows in Saudi Arabia over the past few years due to personal issues regarding the country and their actions.
Do you think being sold to Saudi Arabia will deeply change WWE as a whole? Let us know what you think in the comment section down below.
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