WWE

The saga continues within WWE as talks of a sale continue to grow with "multiple wrestlers" reported to want out if the Saudi Arabia PIF buys the company.

The PIF is the sovereign wealth fund of Saudi Arabia and already owns a stake in the English football club Newcastle United as well as the LIV Golf organisation. Her decision comes mere days after her father Vince McMahon was reinstated to the WWE Board of Directors, and immediately after her announcement, the company issued a press release stating that Vince had been [unanimously elected](https://tjrwrestling.net/news/vince-mcmahon-wwe-executive-chairman/) Executive Chairman of the Board. The saga continues within WWE as talks of a sale continue to grow with “multiple wrestlers” reported to want out if the Saudi Arabia PIF buys the company.

WWE has not been sold to Saudi Arabia's Public Investment Fund ... this according to sources familiar with the situation.

with the intent to help with TV deal negotiations and explore a potential sale of the company. A sale to Saudi Arabia would certainly cause backlash with WWE fans ... WWE Company Not Sold to Saudi Arabia ... WWE has not been sold to Saudi Arabia's Public Investment Fund ... WWE Sources Say Company Not Sold to Saudi Arabia [Vince McMahon](https://www.tmz.com/people/vince-mcmahon/) secured a massive payday for handing over the company reins to Saudi Arabia, which would take the WWE private once again.

WWE Inc. chief Vince McMahon—who returned to the company in early January after resigning amid a wave of sexual harassment allegations—is facing investor ...

His daughter, Stephanie McMahon, who resigned as co-CEO and chairwoman Tuesday, is married to another top executive, former WWE champion Paul “Triple H” Levesque. To contact the editors responsible for this story: McMahon](https://www.bloomberglaw.com/public/document/ScottAFellowsvVincentKMcMahonDocketNo20230022DelChJan102023CourtD?doc_id=X67OCN5B0D9MEO593PB4BAUMRB), Del. To contact the reporter on this story: 2023-0022, complaint filed 1/10/23. According to the proposed class action, McMahon timed his return to seize control of upcoming negotiations over the company’s expiring media rights, the “lifeblood” of the business, and forced his way back by leveraging a threat to withhold support for any deal reached without his participation.

The stock rose as much as 2.5% in early Wednesday trading following a report about the company's alleged pending sale to the Saudi Arabian sovereign wealth ...

The long-time WWE CEO and chairman McMahon [resigned](https://www.forbes.com/sites/brianbushard/2022/06/17/vince-mcmahon-steps-down-as-wwe-ceo-amid-3-million-hush-pact-investigation/?sh=395f42dc278c) from the company in June and [retired](https://www.forbes.com/sites/nicholasreimann/2022/07/22/vince-mcmahon-retires-from-wwe-under-cloud-of-misconduct-probe/?sh=3899789c5253) from the company in July following the revelation of [millions](https://www.forbes.com/sites/dereksaul/2022/07/25/wwe-discloses-millions-in-vince-mcmahon-expensesbut-companys-stock-still-soars/?sh=5a5ef7f263e1) of dollars in company funds going toward “hush” payments to former employees accusing him of sexual misconduct. McMahon officially [took over](https://corporate.wwe.com/investors/news/press-releases/2023/01-10-2023-235206986) as chairman late Tuesday, while his daughter Stephanie McMahon simultaneously resigned from her role as co-CEO and chairwoman in what the elder McMahon described as a “personal decision.” The Saudi Arabian sovereign wealth fund made waves in American sports in 2022, [dishing out](https://www.forbes.com/sites/justinbirnbaum/2022/08/12/majors-monopolies-megabucks-and-donald-trump-inside-the-business-of-the-new-saudi-golf-league/?sh=18f414073ef5) billions of dollars in its financing of LIV Golf, the controversial PGA Tour competitor that lured top American golfers like Phil Mickelson and Bryson DeChambeau with its nine-figure paydays. [Vince McMahon Retires From WWE Under Cloud Of Misconduct Probe](https://www.forbes.com/sites/nicholasreimann/2022/07/22/vince-mcmahon-retires-from-wwe-under-cloud-of-misconduct-probe/?sh=7faf1c4f5253) (Forbes) [Vince McMahon’s WWE Sale Would Body Slam UFC](https://www.sportico.com/personalities/owners/2023/vince-mcmahon-wwe-sale-would-body-slam-ufc-1234700896/) (Sportico) [estimate](https://www.forbes.com/profile/vincent-mcmahon/?sh=7fcfb861b897) McMahon to be worth $2.9 billion, with his fortune up substantially from the $2.3 billion it stood at as of his [June resignation](https://www.forbes.com/sites/brianbushard/2022/06/17/vince-mcmahon-steps-down-as-wwe-ceo-amid-3-million-hush-pact-investigation/?sh=395f42dc278c). [said](https://www.businesswire.com/news/home/20230106005293/en/WWE-Provides-Update-Regarding-Composition-of-Its-Board-of-Directors-and-Exploration-of-Strategic-Alternatives) last week it planned to “undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders,” indicating it was likely mulling a sale, and CNBC [reported](https://www.cnbc.com/2023/01/07/who-would-buy-wwe-as-mcmahon-returns-to-board-to-pursue-sale.html) Saturday the firm has retained JPMorgan Chase to advise on such a transaction. [said](https://twitter.com/RichLightShed/status/1613167493580734476) LightShed Partners’ Rich Greenfield on Twitter, while Cannonball Research’s Vasily Karasyov noted in an email the original tweet was deleted and wrote in a recent note that the WWE would need to complete media rights negotiations in order for a sale to “make sense” for any bidder, with its television deal set to expire next year.

Stephanie's father, Vince, has now returned as chair - after she became co-CEO and chairwoman in July.

Stephanie has been a part of the company since the 1990s, appearing as an in-ring performer and leading the company in various roles behind the scenes. "Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand," Vince McMahon said. "I look forward to cheering on WWE from the other side of the business," Stephanie wrote in her resignation statement.

Rumors of a sale to Saudi Arabia have thrown wrestling's biggest company into turmoil.

This isn’t a done deal yet, but it seems to be on the ropes — and the future of wrestling could be very scary if this is finalized. A sale to the PIF would not carry on that legacy. A sale to the PIF would maximize the amount of money for a sale, with the additional benefit being that as a buyer they would be far less likely to scrutinize financials or worry about making a return on investment. Vince McMahon is unquestionably one of the worst employers in the United States when it comes to the rights of his workers. This is what’s often missed in the discussion of PIF-owned entities. Still, it’s a far cry from suddenly becoming the employee of a country with a laundry list of human rights violations. Complete with a host of wrestlers speaking on camera about how lovely Saudi Arabia is, how kind people are, bragging about the country’s cleanliness, and telling a predominantly western audience what a wonderful place it is to visit. Of course, this is designed to distract from the fact that anyone found to be LGBTQ can tortured, sentenced to life imprisonment, or be subject to chemical castration. So let’s slow things down, discuss what the hell is actually happening, and what this means for the future of professional wrestling — not just in terms of WWE, but for the industry as a whole. Significant investment, often far above “accepted” market rates, is made into a team, league, or sport as a whole — with an expectation that in exchange the beneficiary will help perform public relations for Saudi Arabia. On Tuesday night reports and rumors swirled that the world’s largest professional wrestling company was in the process of being sold to Saudi Arabia’s Public Investment Fund (PIF), the same entity which has heavily invested in Formula 1, initiated a takeover of We can pump the brakes on the sale reports right now, because this isn’t something that can happen in the dead of night without significant regulatory hoops to jump through.