Speculations spreading on social media about WWE sold to Saudi Arabia rumors late Tuesday night into early Wednesday.
According to sources, WWE is “currently evaluating all options” and has not committed to selling to Saudi Arabia or any other organization.
WWE sold to Saudi Arabia’s Public Investment Fund, and it will no longer be a publicly traded company, according to a since-deleted tweet. Although a contract in principle has reportedly been reached between WWE and Saudi Arabia, it hasn’t yet been signed.
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WWE sold to Saudi Arabia rumors have started with the return of the Vince McMahon
Following Vince McMahon’s return to the WWE as a member of the board of directors last week, rumors of an impending sale of the firm went into overdrive.
After a WWE board of directors’ investigation found that McMahon had paid millions of dollars to several women in exchange for their silence regarding their sexual relationships with him and, in some cases, allegations of sexual misconduct, McMahon resigned from his role as WWE chairman, CEO, and head of creative in July.
Before Vince McMahon’s return was made official, there were rumors that McMahon was considering a WWE comeback to influence a possible sale of the organization. Although McMahon, the company’s major shareholder, hasn’t officially declared that he wants to sell, he did state being re-elected to the board of directors in which he noted that he thought it was crucial to be involved in discussions over WWE’s television rights.
As a result of McMahon’s unanimous election as executive chairman and his daughter Stephanie McMahon’s resignation from the co-CEO position she assumed upon her father’s retirement, Tuesday was a newsworthy day for WWE.
If WWE sold to Saudi Arabia rumors are true, an astronomical deal is upon us.
These actions contributed to the sale rumors, but there is still no proof that a sale has actually taken place or even been agreed upon. WWE originally struck a business agreement with Saudi Arabia in 2018, and subsequently decided to conduct two significant events there annually through 2027.
WWE has benefited financially from the partnership since each Saudi Arabia show brings in between $50 million and $55 million. And these are not small numbers. Even though there is no official announcement made from either WWE’s or Saudi Arabian’s side if WWE sold to Saudi Arabia rumors are true the deal will cost an astronomical amount.
How much does Saudi Arabia pay WWE?
WWE is looking past it to receive $50 million for two annual performances from the General Authority for Entertainment of the Saudi Arabian government. That is a big deal from a commercial standpoint. WWE earns a staggering $500 million thanks to a 10-year contract with the Saudis.
Additionally, this is good news for Saudi WWE fans. The fans get to see their preferred WWE icons and superstars in person.
Are all WWE matches scripted?
Spontaneity is bound to occasionally appear in professional wrestling, even though nearly 99.9% of the events over the years have been meticulously scripted and planned for. In actuality, some of the most enduring events in WWE history have place naturally.
We have come to the end of our WWE sold to Saudi Arabia news. If this news, which is only a rumor, becomes reality, we will inform you directly. If you’re a WWE fan then you must be familiar with the video game of WWE. We recommend that you take a look at our article called WWE 2K22 Clowning Around DLC: Release date, new wrestlers, and more.