Sources have told TMZ that the deal between WWE and Saudi Arabia Private Investment Fund isn’t complete.
On Tuesday night, word spread that infamous former chairman, Vince McMahon, had secured an enormous deal to hand the business over to the Middle Eastern country. This, on paper, would make WWE a private company again.
The rumours caught fire when Mr McMahon returned to the board of directors. He supposedly made his comeback to help the promotion negotiate TV deals and explore the logistics behind a potential sale.
Stephanie McMahon leaves WWE
Just hours prior to the reported Saudi deal, Vince’s daughter, Stephanie, announced her departure from WWE and her role as CEO.
She released the following statement: “About eight months ago, I took a leave of absence and within a few weeks, unexpectedly had the opportunity of a lifetime. I had the privilege to return as the Co-CEO and Chairwoman of the Board of WWE.”
“I cannot put into words how proud I am to have led what I consider to be the greatest company in the world, working alongside a remarkable leadership team and one of the strongest executives I have known in my Co-CEO, Nick Khan,”
“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,” McMahon said … adding she will continue to support the company — just as she did when she was a little girl — and will “remain dedicated to WWE.”
“I truly love our company, our employees, our Superstars, and our fans. And I am grateful to all of our partners. Thank you for everything. Then. Now. Forever. Together.”
A sale to Saudi would undoubtedly cause controversy, due to their human rights violations. In 2018, fans reacted furiously after WWE signed a 10-year deal to host PPV events in the infamous country.
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Featured Image Credit: Triple H
