According to rumours, the American professional wrestling organisation WWE has been sold to Saudi Arabia's Public Investment Fund. The claims surfaced only hours after Stephanie McMahon resigned from the firm and her father, Vince McMahon, was reinstated as Chairman of the Board.
According to DAZN pro wrestling writer Steven Muehlhausen, Vince, who is also WWE's main shareholder, took the decision to take the firm off the public stock market and back into private hands.
WWE, a professional wrestling business, has broadcasting agreements all around the world. According to CNN, the business went public on August 3, 1999. The McMahon family once owned it.
Vince had already stated that he intended to sell the firm upon his return, thus the news of WWE being sold to Saudi Arabia should come as no surprise.
Vince had already stated that he intended to sell the firm upon his return, thus the news of WWE being sold to Saudi Arabia should come as no surprise.
Stephanie McMahon resigned from her role as WWE's co-CEO today. Until her father returned last Friday, she was also the company's chairperson. She shared co-CEO duties with Nick Khan, who is currently WWE's sole CEO.
Paul "Triple H" Levesque, a WWE superstar and Stephanie's husband, will keep working for the organisation. Since Vince departed as chairman of WWE last year, The Game has served as the company's chief content officer.
