WWE has been sold to Saudi Arabia’s public investment fund.
Ever since Vince McMahon forced his way back into the WWE board of directors, rumors have been running rampant that the chairman of the board is looking to sell the company. The rumors picked up pace when Stephanie McMahon resigned from her position as the Co-CEO of the promotion earlier today.
Now latest reports are suggesting that the worst has already happened. According to Steven Muehlhausen of DAZN, WWE has closed a deal with the Saudi Arabia’s Public Investment Fund:
“Sources: #WWE has been sold toSaudi 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.”
Not many details are known about the agreement between the two parties at the moment but it’s believed that Vince McMahon will be staying in his position if the Saudis have bought the company.
