Saudi Arabia rumored to buy World Wrestling Entertainment

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Is it ribs? You’re ribbing us, aren’t you?

Twenty-two years after Vince McMahon gleefully boasted “I bought my competition” after Ted Turner’s acquisition of WCW, the now-77-year-old is rumored to be a wrestling magnate. Selling World Wrestling Entertainment to Saudi Arabia.

Saudimania

So far 2023 has been one Survivors match for WWE. last year, McMahon left the company After it was revealed that he had quietly paid several women for decades of sexual misconduct claims. He was still the majority shareholder but his creative director role and his in-ring “evil boss” “persona” were gone.

McMahon’s daughter Stephanie stepped into the role of co-CEO with Nick Khan, and son-in-law Paul “Triple H” Levesque stepped in as the creative voice, which many fans appreciated decades after McMahon’s Cruise-worthy and oddly terrifying management style. – He once fired a wrestler for laughing during a segment. Oh, and he doesn’t like the word “wrestler” being said on his show.

But last week, McMahon returned to the company as a board member and suggested he would sell the business. Stephanie has since stepped down as CEO and many insiders believe WWE is ready to be sold to Saudi Arabia’s Public Investment Fund. This is not far-fetched as WWE already has a close relationship with the Gulf nation:

  • In 2018, WWE entered into a 10-year partnership with the Saudi Arabian Ministry of Sports to host two events per year in the country. WWE received backlash for partnering with a country responsible for numerous human rights violations and the murder of journalist Jamal Khashoggi, but Vince saw the dollar sign. Just one event in Saudi Arabia brought in roughly $50 million in revenue – nearly three times as much as WrestleMania, WWE’s show of shows.
  • Saudi Arabia is spending on sports. The nation has invested heavily in Formula 1, buying an 80% stake in Newcastle United Football Club and launching the absurdly wealthy but highly criticized LIV Golf League, which has poached PGA greats such as Phil Mickelson and Dustin Johnson.

Fans are dismissive of the rumored deal and worry that it could be bad news for WWE’s women’s division, which McMahon has long considered an afterthought. After all, women in Saudi Arabia were only allowed to drive their own cars, so it’s hard to imagine them being allowed to pump handle fallaway slams. Audiences are also showing support for Sami Zayn, who Saudi Arabia does not allow to perform inside the country because of his Syrian heritage.

“TBH @SamiZayn I’ll follow him wherever he goes. The man is a true actor and oozes charisma,” tweeted a fan. “No joke, that, in itself, is a legitimate reason not to sell to Saudi Arabia.”

Know your role, Jabroni: Even though Vince McMahon has defined Cade down, even he can’t just snap a deal with the Saudis. WWE is publicly traded, so shareholders still need to be made aware of such deals through SEC filings. Other rumored buyers include Comcast and Disney. One thing is for sure, there is No chance in hell WWE will retain all of its fans if the Saudi deal is implemented.




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