Rumour, speculation and everything in-between once again reign supreme in WWE following reports that the company has been sold.
On January 6th Vince McMahon returned to WWE’s Board of Directors along with two associates. In the process, McMahon removed three board members while two others resigned with immediate effect. As the company took the first steps towards a sale, Stephanie McMahon also sensationally resigned on January 10th.
Stephanie had been working as co-CEO alongside Nick Khan since returning to the company in July. This led to Khan being named as sole CEO.
Following Stephanie McMahon’s departure it was announced that Vince McMahon has again been elected as Executive Chairman. McMahon praised Stephanie for the job she has done with the company in recent months.
“First, I’d like to express my full support for Stephanie’s personal decision. I’ll forever be grateful that she offered to step in during my absence and I’m truly proud of the job she did co-leading WWE. Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.
“I’m proud to announce that Nick Khan will serve as WWE CEO. Nick’s business acumen and mastery of the media industry have helped catapult our business to record revenue and profitability. Together, we look forward to working with the Board at this critical moment in time to review our strategic alternatives and maximize value for all WWE shareholders.”
WWE Reportedly Sold To Saudi Arabia Public Investment Fund
This was followed by reports that WWE has now been sold to Saudi Arabia’s Public Investment Fund. PIF are already the majority shareholders in English Premier League club Newcastle United, while also being behind controversial body LIV Golf, which has been set up as a rival to the established PGA Tour. The group are already in control of a staggering list of assets worth $620 billion. However, it is important to note that the sale is yet to be made official.
Despite this, a new report from Fightful Select has claimed that one talent has confirmed they will be “done” with the company if the deal with the PIF goes through. Although at time of writing no talents have asked for their release.
Aside from the potential sale there has been an “incredible amount of concern” among both staff and talent regarding Vince McMahon’s return to power.