Update On Potential WWE Sale Claims Saudi Arabia PIF Is Not Favored To Buy Company
An update on the potential WWE sale has been provided while noting that the Saudi Arabia PIF group are not considered the favorites to buy the company.
There have been a lot of rumors about who might buy WWE including a false rumor that came out in the last week that led to some anger among fans. That’s because there was a report claiming the Saudi Arabia Public Investment Fund had bought the company, but it turned out to be false.
The WWE Executive Chairman Vince McMahon is ready to sell the company and recently hired some outside advisors to assist in the sale process.
It has been reported by the Wrestling Observer Newsletter’s Dave Meltzer (available via subscription) that the rumor of Saudi Arabia’s Public Investment Fund buying WWE was not true and also, that group is not considered the favorites to buy WWE.
“Rumors spread throughout wrestling on 1/10 that the company had been sold to the government of Saudi Arabia. In the case of something like this, literally only the top people who know and they would not say anything until the sale was finalized, which takes time.”
“Ariel Helwani, whose agent at one point was Nick Khan, reported the next day that there was no sale and the company wasn’t going to be sold to Saudi Arabia and WWE contacted other reporters with the same information. Those at WWE said that Saudi Arabia was in the running but not the favorite.”
As he continued, Meltzer noted that analysts believe that Comcast has the capability of buying WWE and there is an obvious connection between the two companies.
“Those that have expressed interest in purchasing the company include Comcast/NBCU, which on the surface makes the most sense given the amount of money they pay for Raw and the former WWE Network (close to $500 million per year and add at least $200 million more for them to get Smackdown, which has been a major money loser for FOX).”
“Analysts have noted Comcast, worth $164 billion, would have the capability of pulling off a deal that analysts are estimating would cost $7.4 billion to $8.2 billion, with others saying WWE is hoping for $8.5 billion. Saudi Arabia, Amazon Prime, Disney and Netflix would as well. Endeavor or the Khan Family would need to work with other business partners, as Endeavor did with its purchase of UFC.”
For now, there’s no indication of when WWE might sell the company or if they will at all, but if they do sell then it’s expected to happen in the first six months of 2023 ahead of their media rights deals for Raw and Smackdown expiring in September 2024.