One of the main players that could possibly launch an offer to buy WWE has bid an eye-watering sum to acquire the entire Formula 1 brand.
When Vince McMahon forced his way back to the top of WWE as Executive Chairman, rumours that the company was about to be sold run rampant. Reports that the Saudi Arabia Public Investment Fund was on the brink of a purchase proved to be “completely false” at the time, but they may have just been premature.
Speaking on Wrestling Observer Radio, Dave Meltzer acknowledged that the Saudi Arabia PIF offered a ludicrous amount of money to buy Formula 1 and they have ambitions to make a huge acquisition:
“They tried to buy Formula 1. They got turned down but they offered just under $20 billion. The last time Formula One sold was 2016 and it was sold for, I think, $4.4 billion so we’re talking six years later and they offer $20 billion. But Liberty which owns it would not sell it. So don’t think they’re not gonna make a big bid for WWE because they are.”
“Liberty are not so high and mighty – they have a deal similar to WWE’s deal where they bring in Formula 1 Grands Prix to Saudi Arabia every year and it’s a $65 million deal so they’re willing to do business with them but they were not willing to sell it. WWE is looking to sell so we’ll see what happens but they were very, very serious about this one. And this was not a company that was for sale, they were looking to acquire something big.”
“More than the soccer team they’ve got in Newcastle, or LIV Golf, they’re looking for something – a big time, major, mainstream media purchase right now. WWE would fit into that role very easily.”
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