Saudi Arabia, a highly interested buyer of WWE?

By Al Mayadeen English
Source: News websites
26 Feb 2023 12:31
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After WWE's pay-per-view Royal Rumble event in Saudi Arabia in 2018, the county has expanded its partnership with the entertainment show, expressing a "definite interest" in purchasing it.

John Cena, right, in action against Triple H at the show in Jeddah on April 27, 2018. (AFP)

The Saudi Arabia Public Investment Fund remains one of the viable buyers of Vince McMahon's World Wrestling Entertainment company, as WWE rumors say. Dave Meltzer of the Wrestling Observer Newsletter called it a "definite interest".

Ever since Saudi Arabia held WWE's Royal Rumble live event back in 2018, the two parties shortly expanded their relationship, as two more events are to be hosted by the KSA through 2027.

Saudi Arabia's Public Investment Fund announced a $2 billion investment in LIV Golf in the spring of 2022 with further expansion in the field, despite human rights groups' allegations that the kingdom is taking these steps to sportswash its way to a better reputation.

Vince McMahon retired in July amid sexual misconduct allegations, only to return to the WWE board of directors earlier this year.

MacMahon paid a total that exceeds $12 million to four different women formerly affiliated with WWE to cover up sexual misconduct allegations against him, according to Wall Street Journal.

McMahon was unanimously elected to return to his executive chairman position on January 10th. This decision was taken to "facilitate potential sale talks ahead of the company's media rights renewal", CNBC reported.

Bloomberg reported last week that McMahon is seeking a $9 billion sale, with Saudi Arabia cited as a potential buyer.

It has been noted that the number one contender for the purchase would be a media company. However, due to uncertainty over future changes in consumption, this could change.