Reports: WWE has not been sold to Saudi Arabia's Public Investment Fund

Originally posted on F4WOnline.com | By Josh Nason | Last updated 1/11/23

After a feverish level of speculation Tuesday night on social media that included some reports that a sale was a done deal, it was reported by multiple outlets and media members Wednesday that as of now, WWE has not been sold to Saudi Arabia's Public Investment Fund.

As of the start of the morning stock exchange, WWE had not made any formal announcement or recognition of the rumors. Their stock hit as high as $92.50 in pre-open trading but had dipped under $90 as of this writing. The last week alone has seen the stock increase more than 27% following Vince McMahon's return to the company and anticipation of a sale.

MMA reporter Ariel Helwani, a former client of WWE CEO Nick Khan, tweeted that according to his sources, while WWE is exploring all options, "Contrary to reports stating otherwise last night, there is no deal in place at this precise moment for WWE to be sold to Saudi Arabia’s Public Investment Fund or any entity."

TMZ also reported Wednesday that no deal has been done and Wrestlenomics' Brandon Thurston also tweeted that the sale rumor was untrue.

The rumors of WWE being sold and then going private emerged hours after Stephanie McMahon announced she was resigning as WWE co-CEO, and that the Board had unanimously approved Vince McMahon to return as Executive Chairman.

After resigning as CEO and Executive Chairman last July in the midst of a scandal caused by nearly $20 million in unreported expenses tied into allegations of sexual misconduct, Vince McMahon officially made his way back to the company's Board last Friday along with two former WWE executives. Three Board members were dismissed to make room while two others resigned that day.

In SEC filings about his return, McMahon included his communication to the board that as the company's primary shareholder, he would not approve any media rights deal or sale unless he was reinstated as Executive Chairman and that was the main focus on his return.

This article first appeared on F4WOnline.com and was syndicated with permission.

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