WWE Sale To Saudi Arabia ‘Agreed In Principle’ – What We Know So Far

WWE

It has been a wild few hours for wrestling news, so for those of you who are just catching up, here is what we know about the major developments in WWE overnight:

– It began at 6.36pm New York time on Tuesday, when Stephanie McMahon tweeted to announce that she was not only leaving the co-CEO role that she assumed last summer, but was resigning from the company altogether.

– In doing so, she also revealed that her father Vince McMahon is returning to his former role as Executive Chair, with Nick Khan remaining as sole CEO and Paul ‘Triple H’ Levesque staying on as Chief Content Officer.

The election of Vince to the Executive Chair role appears to have been held after Stephanie’s resignation from the Board of Directors.

– Shortly after that announcement, rumours began to circulate that a deal had been agreed for Saudi Arabia’s state-owned Public Investment Fund to buy the company.

Just before 10.30pm sports site DAZN confirmed that sources had indeed told them that the company had been sold.

– According to the reports, the sale has been “agreed in principle” and would involve the company returning to private ownership for the first time since 1999, when it became a publicly-traded entity.

– At present these are still rumours. Several prominent journalists including Sean Ross Sapp of Fightful have emphasised that no-one in the company has yet confirmed the rumours, and indeed many are expressing scepticism that the news is accurate.

– While there has been no official comment on the Saudi rumours, the company has issued a press release thanking Stephanie McMahon for her contributions to the company.

Vince said his daughter “has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.”

WrestleTalk will continue to provide updates on this rapidly developing story in the coming hours – it’s going to be an interesting Wednesday…

Written by Dave Bradshaw

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• Sale
• saudi arabia
• Vince McMahon
• wwe

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