Report: WWE Sold To Saudi Arabia

The sale of WWE to Saudi Arabia's Public Investment Fund appears to be a done deal.

Vince McMahon Saudi Arabia
WWE

A whirlwind week for WWE keeps intensifying. Six days after Vince McMahon's official return to the company's Board of Directors, Saudi Arabia's Public Investment Fund has agreed to purchase the market-leading wrestling promotion.

Multiple outlets have reported as much. Rumours started swirling when Bryan Alvarez of the Wrestling Observer tweeted that monster news was about to drop:-

Later, Bodyslam.net's Cassidy Haynes reported that the "Saudi deal was done", with WWE set to go private:-

The Saudi PIF emerged as potential buyers for WWE last week, when Vince McMahon returned to the promotion stating his desire to engineer an advantageous new media rights deal with the company, with the accompanying Wall Street Journal report noting the 77-year-old's intention to sell the promotion. Appointed WWE's Executive Chairman, Vince was back in power after resigning in disgrace last July, doing so in the wake of news he had paid tens of millions of dollars to suppress allegations of sexual assault between 2006 and 2022.

Since his original report, Haynes has claimed that the WWE/Saudi sale isn't yet finalised as company shareholders and other parties must be notified. Nonetheless, the deal is agreed:-

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His reporting is corroborated by DAZN's Steven Muehlhausen, who states similarly:-

Fightful Select, meanwhile, reports to have heard of sale rumours but not enough to confirm anything yet. WWE staff haven't yet been notified of a sale, with writing and production crew members seemingly in the dark. Talent hasn't been briefed either, though one commented that should the sale go through, they'd be "done" with WWE.

WWE's working relationship with Saudi Arabia goes back to April 2014, when the promotion held its first tour in the nation. This was expanded through the announcement of what was described as a "10-year strategic partnership" between WWE and the Saudi General Sports Authority in 2018, through which WWE promotes two annual shows in the country - to the tune of around $50 million each.

This deal has been a source of immense controversy for WWE, primarily as shows such as Super ShowDown and Crown Jewel form part of the Saudi Vision 2030 program. Designed to rehabilitate the image of a nation blighted by an awful human rights record, WWE's participation in it has led to understandable allegations of sportswashing.

Created in 1971 with the purpose of investing funds on behalf of the Saudi Arabian government, the PIF currently holds assets worth an estimated $620 billion.

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Andy has been with WhatCulture for six years and is currently WhatCulture's Senior Wrestling Reporter. A writer, presenter, and editor with 10+ years of experience in online media, he has been a sponge for all wrestling knowledge since playing an old Royal Rumble 1992 VHS to ruin in his childhood. Having previously worked for Bleacher Report, Andy specialises in short and long-form writing, video presenting, voiceover acting, and editing, all characterised by expert wrestling knowledge and commentary. Andy is as much a fan of 1985 Jim Crockett Promotions as he is present-day AEW and WWE - just don't make him choose between the two.