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Saudi Arabia Eyeing Purchase of WWE
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TMZ Sports confirmed late Wednesday afternoon that the rumors circulating about the Saudi Arabian Public Investment Fund having already completed a purchase of the WWE are false.
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Sportscaster Jon Alba said on Twitter that he was told by a "high-ranking WWE source" that reports about the sale being finalized are "completely false."
WWE has not officially made a statement.
Original story below.
The world of the WWE this week has proven to be more chaotic than a Friday Night SmackDown show as rumors swirl that the company may soon be (or secretly has been) sold to a Saudi Arabian company amid the departure of current Co-CEO and Chairwoman Stephanie McMahon.
Earlier this week, it was announced that former CEO Vince McMahon would be making a comeback to rejoin the WWE board alongside former co-presidents and directors Michelle Wilson and George Barrios, meaning that two people currently on the board would have to exit in order for this to happen.
McMahon had indicated in a statement to ESPN that he is eyeing a sale of the company, as he is the majority shareholder.
The first domino to fall? His own daughter, Stephanie McMahon, who had been serving as co-CEO alongside Kick Kahn since her father's July 2022 retirement.
McMahon wrote on social media that she would be leaving her role as chairwoman and co-CEO on Tuesday, noting that upon her departure she is "confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders."
Soon after she penned her goodbye, Twitter went wild with rumblings that McMahon had planned to sell the company to Saudi Arabia's Public Investment Fund, which would make the company private, per reports from Deadspinand wrestling outlet BodySlam.net.
A report earlier this week from Front Office Sports claimed that the PIF had been eyeing a purchase of the WWE, with some "sources" even seeming to indicate that the deal was already done.
For what it's worth, I'm told the Saudi deal is done and they're taking the company private.
WWE has had programming in Saudi Arabia since 2014 and started televising special events there in 2018 through its partnership with the Saudi General Entertainment Authority.
The Saudi Arabia Public Investment Fund is also the same company that owns the LIV Golf league.
If the deal between the PIF and the WWE were to go through, it would raise questions about certain facets of the WWE league — namely the Women's Wrestling department and the country's laws about what women are permitted to wear in public.
Neither the WWE nor its executives had publicly confirmed or denied the rumors as of Wednesday afternoon.
Believe it or not, a Christmas tree won't stay upright on its own. Instead, you need a stable Christmas tree stand that can accommodate the type and size of tree you have. We researched dozens of the best Christmas tree stands to help you find the right one for your needs, whether you have a real tree, an artificial tree, a small tree, or a behemoth. The stands in our guide have a track record of durability, performance, and easy setup. We also outline the size and type of tree each stand is meant for. Check out our guide to the best Christmas tree skirts once you've chosen the right stand for your tree. The best Christmas tree stands in 2022 Best Christmas tree stand overall: Krinner Tree Genie Christmas Tree Stand, available at Amazon, $82.79 The German-engineered Krinner Tree Genie Christmas Tree Stand is easy to set up in a couple of minutes and keeps trees up to 12 f...
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