After Buying Newcastle United, Saudi Arabia Billionaires Acquires WWE

For what it’s worth, I’m told the Saudi deal is done and they’re taking the company private.

— Cassidy Haynes of Bodyslam.net (@Casshooole) January 11, 2023

DAZN’s Steven Muehlhausen tweeted that sources told him that WWE has been sold to Saudi Arabia’s Public Investment Fund and that the company will be going back private. He said it is unknown if Vince will return to the head of creative, but some people are expecting it.

Sources: #WWE has been sold to
Saudi 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.

— Steven Muehlhausen (@SMuehlhausenJr) January 11, 2023

In the latest update, Haynes has now tweeted:

The deal isn’t completely finalized because WWE must provide notice to shareholders & other parties.

There are legalities to go through, as the company is publicly traded.

But, again, I’m told a deal has been agreed to in principle.

Update, here is what I’ve put together so far:

The deal isn’t completely finalized because WWE must provide notice to shareholders & other parties. There are legalities to go through, as the company is publicly traded. But, again, I’m told a deal has been agreed to in principle.

— Cassidy Haynes of Bodyslam.net (@Casshooole) January 11, 2023

Muehlhausen’s initial tweet was as follows:

Sources: #WWE has been sold to Saudi 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.

We’ll continue to keep you posted as updates emerge.

On January 6, using his power as majority owner, Vince McMahon put himself and former WWE presidents George Barrios and Michelle Wilson back on the company’s Board of Directors, disposing of JoEllen Lyons Dillon, Jeffrey R Speed, and Alan M Wexler in the process.

McMahon had stated that his intention was to facilitate a sale of the company.

He changed bylaws to ensure that no sale or media rights deal could be completed without his approval.

Upon McMahon’s return, two further Board members resigned of their own volition, those being Man Jit Singh – who was the one heading up the Board’s investigation into McMahon – and Ignace Lahoud.

Stephanie McMahon then resigned from her role as co-CEO and Chairwoman and her position on the Board earlier yesterday (January 10), as Vince McMahon was elected Executive Chairman.

There has been much speculation that Vince McMahon was looking to sell to a party that would commit to keeping him in charge of the company despite the multiple assault allegations that have surfaced in the past year that led to his initial ‘retirement’ in July.

WWE has a relationship with the Kingdom of Saudi Arabia as it has been running Crown Jewel events since 2018. They have a 10-year deal in place to run annual shows there.

If WWE has in fact been sold to Saudi Arabia, this is a cause for concern for many wrestlers and employees. This is especially true for those who are Muslim, in the LGBTQ+ community, and women. With Stephanie’s resignation, WWE has lost the most powerful woman in the company and in the professional wrestling industry.