WWE, the world’s largest pro-wrestling company, has reportedly been bought by Saudi Arabia’s Public Investment Fund, if reports are to be believed. As per media report doing the rounds, WWE will go back to being private. Such reports emerge hours after Stephanie McMahon resigned as the Chairwoman and Co-CEO days after her father, Vince McMahon, reversed his retirement to take over as the chairman of the board.
The media report which makes these claims is carried by DAZN.
“Sources: #WWE has been sold to Saudi Arabia’s Public Investment Fund. The company will go back to being private. Unknown if Vince McMahon will return to head of creative but it is expected by some people,” DAZN’s Steven Muehlhausen had tweeted.
It is pertinent to note that there were speculation over a possible sale of WWE ever since the return of Vince McMahon with him making it pretty clear that “strategic alternatives” could be taken by the company aiming at the maximum value for all WWE stakeholders.
However, an official announcement has not yet been made and WWE has neither confirmed nor denied the report.
Earlier, while stepping down as the Chairwoman, Stephenie had termed it as an “opportunity of a lifetime.”
Then. Now. Forever. Together. pic.twitter.com/8dqr5reIiv
— Stephanie McMahon (@StephMcMahon) January 10, 2023
“…With Nick’s leadership and Paul ‘Triple H’ Levesque as a chief content officer, I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders,” a part of the statement released by Stephanie McMahon on Twitter read.
“WWE is in such a strong position that I have decided to return to my leave and take it one step further with my official resignation. I look forward to cheering on WWE from the other side of the business, where I started when I was a little kid, as a pure fan,” she added in that statement.
“Then. Now. Forever. Together,” her post was captioned.