Yet another report regarding the WWE and its potential sale to the Saudi Arabia PIF has seemingly poured cold water over it taking place.
Rumours began to swirl on the 10th of January that a sale of WWE was imminent after Vince McMahon returned as the company’s Executive Chairman. That piece of boardroom chess came after Stephanie McMahon stepped down from her role as WWE Chairwoman and co-CEO and announced her resignation from the company.
Two separate reports stated that the sports entertainment giant was on the brink of being sold to the Saudi Arabia Public Investment Fund. The PIF is the sovereign wealth fund of the Middle Eastern Kingdom and owns stakes in Newcastle United Football Club and the Liv Golf group.
Ariel Helwani seemed to pour cold water on the idea that a deal was imminent and now Jon Alba has reported that a “high-ranking WWE source” has called the story “completely false.”
Well, finally got something much more firm.
A high-ranking #WWE source with knowledge of the situation tells me reports of a sale or agreement to sell at this moment are “completely false.”
— Jon Alba (@JonAlba) January 11, 2023
Alba did note that he has attempted to gain official word from WWE as to the status of any potential sale but has not received any at this time.
Saudi Arabia and Vince McMahon have a strong relationship with McMahon signing a ten-year deal with the country’s General Sports Authority to put on stadium shows there.
It has been reported that should any deal be done to sell the company to the PIF, “multiple wrestlers” have said that they would be looking to quit the promotion.