Saudi Arabia Still “In The Hunt” For WWE
The Saudi Arabia Public Investment Fund remains “in the hunt” for WWE with a new report also putting a timeframe on a potential sale.
The wrestling world was rocked on the 10th of January when Vince McMahon sensationally was installed as Executive Chairman of WWE with his daughter Stephanie McMahon resigning from her roles as Chairwoman and co-CEO.
Further drama unfolded when reports suggested that the company was on the brink of being sold to the sovereign wealth fund of Saudi Arabia – but those reports were at the very least premature.
Now speaking on Wrestling Observer Radio, Dave Meltzer has noted that while no deal is complete, Saudi Arabia is still a potential suitor for WWE and would be the number one pick if the goal is to take the company private once again:
“They’re not sold. Saudi Arabia is in the hunt. They’re one of the companies, one of the places that’s looking for it… several media companies, the names that are out there are all in the hunt.”
“They’re looking to sell by the middle of the year. JP Morgan is helping them.”
“Saudi would be the one of the key people as far as if they want to go private, that would be the one. The other ones are public companies. Endeavor are obviously also in the hunt. And, there’ll be a decision made at some point.”
“There’s definitely smoke about the Saudi Arabia story. It’s early. It’s too early for the deal to the finalised, but that one can happen too.”
If the suggestion that WWE is looking to be sold by the summer is true, then the road to WrestleMania could be overshadowed by thoughts of who will ultimately control the sports entertainment juggernaut ahead of WrestleMania 40 in 2024.