WWE Crown Jewel GOING AHEAD In Saudi Arabia
WWE no-sells international incident.
WWE has today released its third quarter financial results. The headline reads 'WWE Maintains Path To Record Full-Year Performance' - but that's not the major, breaking story here.
Under '2018 Business Outlook', WWE states the following:
"WWE has operated in the Middle East for nearly 20 years and has developed a sizable and dedicated fan base. Considering the heinous crime committed at the Saudi consulate in Istanbul, the Company faced a very difficult decision as it relates to its event scheduled for November 2 in Riyadh. Similar to other U.S.-based companies who plan to continue operations in Saudi Arabia, the Company has decided to uphold its contractual obligations to the General Sports Authority and stage the event. Full year 2018 guidance is predicated on the staging of the Riyadh event as scheduled."
WWE never really wanted to cancel the event; anticipating a preposterous windfall, and all too aware that pro wrestling is never under mainstream scrutiny for long, the company has decided to completely no-sell the diplomatic furore and press on with the event as planned. Subjectively deplorable but objectively inevitable, the moral counterargument did not matter in the end. In WWE, little does, and increasingly, even the almighty dollar of sponsor implications puts over the Saudi riyal.
What this means for the company's public image, and its stock price, is unclear. The price is plummeting, but WWE survived the Chris Benoit double murder suicide. The most disturbing controversy in the history of the industry saw it demonised from the mainstream media for a prolonged and intense duration, but as is often the case, that same mainstream media cared less and less as stories elsewhere commanded the attention of the public.
The cycle began anew.
This was a no-win situation for WWE, and what's interesting is that the story is far from over; even countries and governments reluctant to implicate the Kingdom in Jamal Khashoggi's death are now flexing their international muscle - including, arms deals or no, the U.S. The repercussions of it all are still reverberating through the global stage.
WWE, meanwhile, despite countless protests, is willing to take the heat. It's pro wrestling. WWE, of all entities, knows that nothing stays over forever.