#1 WWE Sold to Saudi Arabia: Vince McMahon Expected to Resume Creative Control

WWE Sold to Saudi Arabia’s Public Investment Fund

World Wrestling Entertainment (WWE) has reportedly been sold to Saudi Arabia’s Public Investment Fund (PIF), according to DAZN pro wrestling reporter Steven Muehlhausen. The company will go back to being private, and it is currently unknown if Vince McMahon, who owns controlling shares of the company, will return to head of creative. This news comes shortly after Stephanie McMahon, Vince’s daughter, resigned from the company and Vince returned as Chairman of the Board.

Leading Professional Wrestling Company

WWE is the leading professional wrestling company and has broadcasting deals with USA Network, Peacock, and Fox. The company went public on August 3, 1999, but prior to that it was owned by the McMahon family. Vince had previously indicated that he intended to return to the company in order to sell it.

In a statement, Vince said, “WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms. The only way for WWE to fully capitalize on this opportunity is for me to return as executive chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives. My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder.”

It should be noted that Vince McMahon last year stepped down from his role as CEO amid sexual misconduct and infidelity allegations.

The Saudi Arabian Public Investment Fund

The Saudi Arabian Public Investment Fund, which is controlled by Saudi Prince Mohammed bin Salman, is one of the wealthiest funds in the world. They have previously invested in sport, funding LIV Golf and buying Newcastle United in a £300 Million deal in October 2021.

It is not clear what implications this sale will have on the company and its employees, as well as its fans, but the move would take the WWE off the public stock market and back to being a private business, as well as potentially returning Vince McMahon to a leadership role in the company.

If the sale of WWE to Saudi Arabia’s Public Investment Fund is confirmed, it would represent a significant change for the company, its employees, and its fans. The move from a publicly traded company to a private one could result in a shift in the company’s direction and priorities. It is also worth mentioning that the move is also taking place amid controversy and criticism regarding Saudi Arabia’s human rights record, which could lead to backlash from fans and other stakeholders.

As a private company, WWE would no longer be beholden to the same financial reporting requirements and would be able to operate with more flexibility. However, it would also mean that the company would no longer be publicly traded and shareholders would not have access to the same level of information.

The potential return of Vince McMahon as head of creative would also raise questions about the direction the company could take. McMahon has been credited with helping to build WWE into the dominant wrestling organization it is today, but he has also faced criticism for the way he has handled the company.

It is unclear at this time what the future holds for WWE, but it is clear that the sale to Saudi Arabia’s Public Investment Fund would represent a major change for the company and its fans. The company will likely have to address how it plans to move forward in the wake of the sale and how it will address the concerns and questions that will inevitably arise as a result.

Impact on Professional Wrestling Industry and Entertainment Industry as a Whole

Overall it is a major development for the professional wrestling industry and the fans of the sport, it will be interesting to see how the things turn out in the future, what changes will it bring and how it will affect the overall ecosystem of wrestling and entertainment industry as a whole.

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