Saudi Arabia PIF purchase rumors of WWE turns out to be false

There has been a great deal of discussion regarding the possible sale of the largest wrestling promotion in the world. The most recent of these reports surfaced on Tuesday and claimed that World Wrestling Entertainment (WWE) is on the verge of being acquired by the Public Investment Fund of Saudi Arabia.

The impending return of Vince McMahon is currently the most talked about topic in WWE this week. In July of the previous year, Vince decided to step down from his role as Chief Executive Officer of WWE in the midst of multiple allegations of inappropriate sexual behavior. Many people believe that his return will only serve one purpose, and that is to sell the company.

Vince, For the sake of both his and the company’s reputation, announced his retirement via Twitter on July 23, 2022, writing,  “At 77, time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together.” But Vince is back after six months, following the typical pattern in wrestling, which is to come out of retirement after only a brief hiatus.

Plenty of major events have occurred in the WWE universe since Vince’s retirement. A week after Vince McMahon announced his intention to return to WWE, Stephanie McMahon resigned from her positions as co-CEO and chairwoman earlier this week. Since Stephanie has resigned as CEO and Vince has taken the Executive Chairman position, Nick Khan is now the company’s sole Chief Executive Officer. The company’s chief content officer is still Paul Levesque, better known by his ring name Triple H.

Despite everything that has happened, the company is still available for purchase. Since it was announced that the Public Investment Fund of Saudi Arabia was going to purchase the company, the stock of the company has experienced wild swings in both directions.

Yahoo has just recently confirmed that there has been no agreement reached between PIF and WWE. Further confirmation came from the Canadian-American sports journalist Ariel Helwani, who stated that the company is still open to potential buyers and is exploring all of its choices.

”Contrary to reports stating otherwise last night, there is no deal in place at this precise moment for WWE to be sold to Saudi Arabia’s Public Investment Fund or any entity, sources say. The organization is still exploring all options, I’m told. Developing.” said Helwani in a Tweet.

Tell us what you think about the possibility of WWE being sold to an investor from Saudi Arabia.

 

Khandaker Muntasir

877 articles

Khandaker Muntasir Hossain is a passionate writer and avid reader. Other than having an immense interest in astronomy and gastronomy, he has been a sports lover all his life. Currently covering mixed martial arts, wrestling and boxing of all promotions for Sportszion.

|

Leave a Comment

Sportszion