The recent news of Vince McMahon’s reinstatement to the WWE Board of Directors has set off a chain reaction of rumors and speculations about the future of the company. McMahon’s prime reason for returning to power is to sell off WWE to one of the biggest players in the world, and reports suggest that Saudi Arabia has emerged as the front-runner in the bidding war. The potential sale of WWE has been on the cards for a while now, with Nick Khan, WWE’s president and chief revenue officer, meeting with heavy-hitters in the business world, including CEO of The Walt Disney Company, Bob Iger, and CEO of ESPN, Jimmy Pitaro.
According to Dave Meltzer on Wrestling Observer Radio, WWE is looking to be sold by the middle of the year, and JPMorgan is helping them to facilitate the deal. Saudi Arabia’s interest in purchasing WWE is not surprising, given its history of partnering with the company on major events like WrestleMania. However, other business giants, including UFC’s parent company Endeavor, are also reportedly in the hunt.
Vince McMahon (Via WWE/Twitter)
Vince McMahon’s past relations with the Kingdom of Saudi Arabia and his desire to regain creative control and make WWE a private entity only add to the speculation. McMahon has a reputation for being a shrewd businessman, and it’s likely that he has a few options on the table, including the possibility of selling to Saudi Arabia.
The questions on everyone’s mind now are: will Saudi Arabia indeed purchase WWE, and what would this mean for the future of the company? Only time will tell, but one thing is certain – Vince McMahon’s return to power has set off a chain reaction of events that will have far-reaching consequences for WWE and the wrestling industry as a whole.
Keywords: Vince McMahon, WWE, Saudi Arabia, sale, Nick Khan, JPMorgan, Endeavor, Bob Iger, Jimmy Pitaro, wrestling industry.
