WWE Admits Vince McMahon Driving Force Behind Saudi Arabia Deal
Vince McMahon is no longer a meaningful part of WWE but it seems the company’s relationship with Saudi Arabia is continuing to flourish without him.
Vince McMahon was forced to resign as Executive Chairman of TKO following sickening claims of sexual assault made against him in a lawsuit filed by a former WWE employee. McMahon is contesting the claims made against him and vowed to clear his name.
Since then Vince McMahon has also begun selling the majority of his shares in TKO as his relationship with the company he led for four decades looks to be coming to a permanent end.
With McMahon gone, many wondered what that would do for WWE’s relationship with Saudi Arabia which sees the company hold 2 major PLEs a year in the Middle Eastern Kingdom for a multi-million dollar figure.
Vince McMahon Key Driver In Saudi Arabia Deal
Speaking on the TKO Q1 earnings call, Endeavor President Mark Shapiro sought to reassure shareholders that the relationship is as strong as ever but admits the deal with Saudi Arabia was highly tied to Vince McMahon:
Let’s remember, we have a strong and healthy relationship with the Kingdom, through WWE, and doing two annual events a year. I’ll remind folks that those deals were primarily highly tied to Vince McMahon. There was a lot of speculation with Vince being gone, ‘would that impact the relationship in a negative way? Would they be looking to get out of it?’
I would say that Nick Khan, in particular has developed, sustained, cultivated, and nurtured a very strong relationship in a handoff from Vince. They have a lot of trust and faith in each other. We’ve been delivering on those events. Potentially, we could look to do more events, but nothing is planned beyond those two events at this time. We will be continue to look at festivalizing those WWE events more than we already do.
Following the Endeavor takeover of WWE, Nick Khan moved into the position of WWE President and he is believed to be the key business decision maker for the sports entertainment giant.
A recent report suggested Saudi Arabia was looking to make a play to host WrestleMania in the future.