• Football
  • Boxing
  • UFC
  • Home
  • Football
    • England
    • Transfer News
    • Premier League
    • Champions League
    • Lionel Messi
    • Cristiano Ronaldo
    • EA FC 25
    • Wrexham
  • Boxing
    • Tyson Fury
    • Anthony Joshua
    • Oleksandr Usyk
    • Mike Tyson
    • Jake Paul
    • Logan Paul
  • UFC
    • Dana White
    • Conor McGregor
    • Khabib Nurmagomedov
    • Jon Jones
    • Paddy Pimblett
    • Joe Rogan
  • Other Sport
    • Athletics
    • Formula 1
    • MMA
    • Motorsport
    • NBA
    • Darts
    • NFL
    • Snooker
    • Wrestling
    • Tennis
    • Cricket
    • Golf
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • LADbible
  • UNILAD
  • GAMINGbible
  • Tyla
  • UNILAD Tech
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Topics A-Z
  • Authors
Facebook
Instagram
X
Threads
Snapchat
TikTok
YouTube
Vince McMahon reportedly 'sells WWE to Saudi Arabia's Public Investment Fund'

Home> Wrestling

Updated 22:51 11 Jan 2023 GMTPublished 05:51 11 Jan 2023 GMT

Vince McMahon reportedly 'sells WWE to Saudi Arabia's Public Investment Fund'

The company will reportedly go back to being private for the first time since it became a publicly traded company in October 1999.

Jayden Collins

Jayden Collins

WWE has reportedly been sold to Saudi Arabia’s Public Investment Fund.

Steven Muehlhausen of DAZN reported that the wrestling promotion has been sold to the Middle Eastern country’s investment fund.

He reported that the company ‘will go back to being private’ for the first time since it became a publicly traded company in October 1999.

He noted that it is unknown whether Vince McMahon will return to head up creative, a role assumed by Triple H after Vince’s retirement.

The news of the sale has not yet been confirmed by the WWE.

Advert

Talk of a sale of the company picked up after McMahon, who had retired in July 2022, announced he would be reinstating himself to the Board of Directors.

He announced that his role was essential ‘to maximise the value for all WWE shareholders’ as they undertook ‘strategic alternatives’ leading to the sale of the company.

Earlier today, Vince’s daughter Stephanie McMahon announced her resignation from the company as a result of her father’s return and election as the Executive Chairman of the Board.

She released a statement, saying: “About 8 months ago, I took a leave of absence and within a few weeks, unexpectedly had the opportunity of a lifetime. I had the privilege to return as the Co-CEO and Chairwoman of the Board of WWE.

Advert

Adding: "WWE is in such a strong position, that I have decided to return to my leave and take it one step further with my official resignation.”

The announcement of the sale of the WWE isn’t entirely surprising, considering McMahon made it clear that was his plan upon returning.

However, financial analysts had suggested media giants such as Comcast, Disney, Amazon, and Netflix were leading the way as potential suitors.

Roman Reigns at 2021 Crown Jewel event.
REUTERS / Alamy

Advert

WWE has been in partnership with the Kingdom of Saudi Arabia since 2014 and has regularly held events named ‘Crown Jewel’ in Riyadh.

In 2018 they announced a 10-year strategic partnership.

The partnership has faced criticism over the country’s poor human rights records on women’s rights and the LGBTQ community.

Last year, Vince McMahon faced allegations of sexual misconduct, as well as paying hush money to various women as a cover-up, according to Coming Soon.

Advert

The allegations ultimately led to his retirement from the WWE and his removal from the Board of Directors.

However, he remained the controlling shareholder of the WWE.

The Saudi Arabia Public Investment Fund recently bought Premier League side Newcastle United for A$559 million (£300 billion).

SPORTbible has reached out to WWE for comment.

Featured Image Credit: WENN Rights Ltd / Alamy. WWE Network.

Topics: Vince McMahon, WWE, Saudi Arabia

Jayden Collins
Jayden Collins

Jayden Collins is a Journalist at SPORTbible. He has worked across multiple media platforms in areas such as sport, music, pop culture, entertainment and politics. He is part of the editorial team for LADbible Australia.

Advert

Advert

Advert

Choose your content:

2 days ago
3 days ago
4 days ago
  • GettyGetty
    2 days ago

    Fans Spot CM Punk’s Priceless Response to AJ Lee’s Stunning WWE Comeback

    The return took place in the latest edition of SmackDown and caused a big reaction.

    Wrestling
  • WWE / Contributor via GettyWWE / Contributor via Getty
    3 days ago

    WWE Make Major John Cena Retirement Tour Decision Ahead of Record SmackDown

    The wrestling icon could be part of a record-breaking Friday night SmackDown

    Wrestling
  • GettyGetty
    4 days ago

    WWE Star Reveals Policy That Cost Her Job Has Been U-Turned

    Zelina Vega became the first WWE superstar to be fired following a new policy being introduced.

    Wrestling
  • Ariel Helwani Ariel Helwani
    4 days ago

    Rampage Jackson Takes Tough Stance Against Son Raja After Syko Stu Incident

    UFC legend Quinton 'Rampage' Jackson shared his thoughts on his son's incident with Syko Stu.

    Wrestling
  • Vince McMahon finally dismisses major claim about Chris Benoit incident that nearly destroyed the WWE
  • WWE writer pitched idea so offensive that Vince McMahon immediately left the room
  • Donald Trump once feared Vince McMahon had died in WWE explosion segment as phone call revealed
  • Vince McMahon pitched 'disturbing' WWE storyline that is still called 'messed-up' to this day