UPDATE: New reports have denied that WWE has agreed to sell to Saudi Arabia. More at this link.
A new report has suggested that many people could lose their jobs if WWE’s alleged sale to Saudi Arabia goes through.
The wrestling world was in shock last night (January 10) as it was hit with the one-two punch of WWE co-CEO Stephanie McMahon resigning from the company, followed by reports indicating that WWE will be sold to Saudi Arabia’s Public Investment Fund.
Now the full ramifications of the potential sale are being speculated about, Dave Meltzer has claimed on Wrestling Observer Radio that the sale could mean that several WWE employees will lose their jobs:
“WWE without the rights fees is not worth anything close to what they’re getting. But there’s no, maybe, Vince is sure, he’s got his connections there.
“Maybe he’s already talked to the people at Fox and at NBCU and they’ve assured him that he’s ok.
“I don’t see them cancelling him right now. It’s a very problematic company at this point. There’s gonna be jobs lost.”
It is not yet known what the implications of a sale would be, or even if it is definitely going through.
The latest updates on the WWE-Saudi Arabia situation can be found right here.
Transcription via Inside The Ropes.
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