WWE, the world’s largest pro-wrestling company, has reportedly been sold to Saudi Arabia’s Public Investment Fund.
Reports of the sale emerged hours after Stephanie McMahon announced her resignation from her roles as chairwoman and co-CEO of the company and her father Vince McMahon returned as chairman of the board. Co-CEO Nick Khan will now serve as WWE CEO.
As per DAZN’s Steven Muehlhausen, WWE “will go back to being private” for the first time since October 1999.
Ever since McMahon, who is also the controlling shareholder of WWE, returned from his retirement, talks of a potential WWE sale have been doing the media rounds. Soon after his return to the helm of affairs at WWE, McMahon made his intentions known when he announced that the company was gearing up to undertake “strategic alternatives” with an aim “to maximize value for all WWE shareholders”.
WWE is yet to confirm or deny the reports of its sale to Saudi Arabia’s Public Investment Fund.
