LATEST: WWE Not Sold Yet, Still Exploring Deals

WWE
Photo credit: Jeff Bottari/Zuffa LLC sbnation.com

Despite the rumors that WWE has been sold to the Saudi public investment fund, the WWE has not been sold. At least not yet, they are still exploring deals. On Tuesday, January 10th, 2023 there were multiple outlets on Twitter that said the WWE was being sold. It was said that Vince McMahon who recently returned had found a deal. This news was released just hours after the CO-CEO and daughter of McMahon. Stephanie McMahon resigned from her role as Co-CEO. Which came as a shock to many inside the company and outside. With speculation as to the timing of her leaving many believed it had to do with the later reports of a sale.

Vince McMahon Returns

With initial reports of the WWE being sold to the Saudi public investment fund. Many speculated that the company would then become private again. The WWE has been a publicly traded company since 1999. McMahon left the company and retired this past summer because of sexual assault allegations. As well he was using company funds as hush money given to victims suing him. It was reported a week ago that McMahon wanted to be reinstated on the board again. He wanted to oversee a potential sale and upcoming tv negations. Above all, rumors of the company going private meant that McMahon would then be put back into power.

WWE Not Sold

Early on Wednesday morning reports came out that WWE had not been sold. This comes after many wrestling insiders reached out to officials within the WWE. Above all, no sale was done. For instance, the WWE has not confirmed a sale and has not made an official statement regarding the rumors. Many media members have come back with the information that any news of a sale is false information.

Stephanie McMahon Resigns

As stated earlier Co-CEO Stephanie McMahon has resigned from her position in the company. She worked as Co-CEO with Nick Khan and ran the day-to-day operations. She was a part of the board that did not want to see her father return to the company. Early reports from McMahon’s departure are that WWE superstars are not happy with her leaving as she is well-liked within the company. Khan is now the sole CEO of the company for the moment. It was reported that Khan was brought in to help facilitate a potential sale of the company. Triple H is still head of creative for the time being. In addition, right now there are no plans for Vince McMahon to assume those roles. However, many believe that he will in fact take on those roles again.

As for the sale of the company, it’s just a wait-and-see game. These reports of the WWE being sold could have been a jumping of the gun. It could be a situation of the WWE not being ready to announce the sale and someone within the company leaking information. Therefore, this does not mean WWE and Saudi did not have potential talks of a sale. Neither WWE nor Saudi Arabia has made statements on the reports.

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