WWE Has Been Sold To Saudi Arabia, Reports Claim

According to claims made by DAZN writer Steven Muehlhausen, WWE has been sold to the Saudi Arabian Public Investment Fund (PIF).

When did WWE go public?

WWE is a recognized industry leader in global entertainment and a publicly traded company (NYSE: WWE).  WWE went public on October 19, 1999, after Vince McMahon sought to make the firm public for financial reasons and because he saw it as a necessary step in his efforts to transform the business into a more Hollywood-like entity.

What’s the big news?

According to reports from DAZN’s reporter, WWE has been sold to the Saudi Arabian Public Investment Fund (PIF) This will lead WWE to become private, instead of a publicly traded corporation.

This information of WWE having been sold comes after Lauren Thomas of the Wall Street Journal revealed that Vince McMahon, the primary owner of WWE, was coming back to try to sell the business. McMohan had taken a brief retirement last July as a result of allegations of sexual misconduct. While he was away, his son-in-law Paul Levesque (Triple H) took over the company’s creative leadership, while his daughter Stephanie McMahon acted as co-CEO of the business with Nick Khan. 

Following McMahon’s unexpected comeback, it was widely assumed that McMahon had meant to sell WWE.

Impact of Vince MacMohan’s return

The WWE landscape underwent a significant shift on January 10th when Stephanie McMahon announced her departure from the organization. Just a few days prior, Vince McMahon was reinstated to the WWE Board of Directors. Following her decision, the company immediately released a press release announcing that Vince had been unanimously chosen as Executive Chairman of the Board.

Has WWE been sold?

It is important to note that no formal announcement has been made among all the circulating rumors. WWE has not yet confirmed or denied DAZN’s report that it sold to the Public Investment Fund of Saudi Arabia. Therefore, as of right now, the major news should only be considered speculative.

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