Is WWE being sold to Saudi Arabia? Truth Revealed

Vince McMahon’s return has caused a shift in the ambiance around the entire WWE community as reports have emerged predicting a potential WWE sale to Saudi Arabia. Fans initially disregarded the fiasco, but certain things happening of late have indicated otherwise.

The most significant incident that has hinted at a potential sellout has been the resignation of WWE’s Co-CEO and chairwoman Stephanie McMahon. It has been followed by Vince becoming Executive Chairman via a unanimous decision despite the plethora of legal battles against him.

So, are the rumors true?

The Wall Street Journal announced in December that Vince McMahon wanted to return to the Board of Directors to proceed with the sale. Since he holds a massive chunk of shares, that was a cakewalk.

The former CEO reportedly hired JP Morgan to advise him on the WWE sale project. Sources believe that the initiation of the deal will take place over the next three to six months during the media rights deal led by McMahon.

Vince McMahon believes that the sale will only benefit the stockholders, but Dave Meltzer of WON suggests that he wants to make the sale so that he can become the Head of Creative without any negative repercussions,

My gut is that once that sale is done, he probably will try to take over and get the Creative back… I don’t expect those moves to be made right away, but of course Vince wants to be Head of Creative. And Vince does have power, as far as to facilitate it, he probably at some point this year will have the ability to do it without it having negative repercussions.

Confusing reports have emerged from several sources about WWE’s takeover by Saudi Arabia. Steven Muellhausen of DAZN Wrestling declared Saudi Arabia’s PIF as the new owner of WWE. His reports are yet to be confirmed, though.

While many people have confirmed the news, Cassidy Haynes of Bodyslam has recently clarified and stated that a deal has been agreed to in principle, but the legalities haven’t been finalized yet.

It can be concluded that although the deal hasn’t been done yet, Saudi Arabia is first in line to capture the entertainment giant. It is rumored that the share price currently stands at $90.24, and Vince might be aiming for a century before negotiating with the shareholders.