WWE has not been sold to Saudi Arabia’s Public Investment Fund, despite rumours.
Overnight, there had been speculation on social media that a deal was in place for the PIF to buy the company following Vince McMahon’s sensational return as executive chairman following the resignation of his daughter Stephanie McMahon from her roles as chair and co-CEO.
There had been claims an agreement had been made in principle, while a separate claim that the deal was done has since been deleted.
However, Metro.co.uk understands that there is no agreement or deal in place.
Several outlets and reporters including The MMA Hour’s Ariel Helwani and Wrestlenomics’ Brandon Thurston have cited sources referring to the original reports as false and noted there is no deal or agreement in place.
Ariel, who has worked with WWE’s UK broadcaster BT Sport, tweeted: ‘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, sources say.’
‘The organization is still exploring all options, I’m told. Developing,’ he added, with his tweet shared by Fightful’s Sean Ross Sapp.
The rumours came hours after it was confirmed Stephanie McMahon had stepped down from her roles, with her dad Vince back in power days after he returned to the board of directors after his retirement in July 2022 amid an investigation into allegations of misconduct.
In a lengthy statement, she referenced her ‘leave of absence’ around eight months ago before taking up her roles following Vince’s retirement, and said: ‘Our Founder, Vince McMahon, has returned as Executive Chair and is leading an exciting process regarding strategic alternatives.
‘And with [CEO Nick Khan’s] leadership and Paul “Triple H” Levesque as Chief Content Officer, I am confident WWE is in the perfect place to provide unparalleled creative content and drive maximum value for shareholders.
‘WWE is in such a strong position, that I have decided to return to my leave and take it one step further with my official resignation.’
In a statement, her father Vince expressed his ‘full support for Stephanie’s personal decision’.
This development comes days after Mr. McMahon announced his plans to return to the board to work ‘collaboratively with the Board and management team’ to explore options for the company, including rights deals and a potential sale.
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