Vince McMahon, the Executive Chairman and majority shareholder of WWE, has been involved in a scandal in the past year regarding allegations of payoffs to silence accusations. This situation has been closely followed by the professional wrestling community and has led to speculation about the future of the company. Despite the scandal, McMahon was able to maintain his position and has been actively guiding the direction of the company. Now it seems Saudi Arabia is trying hard to buy a major media company.
Vince McMahon’s return to the Board of Directors was viewed as a hostile takeover, as he displayed a new ruthlessness to regain control of WWE. This move was met with a lot of backlash for good reason. Due to this, he was appointed as the Executive Chairman of WWE, following the resignation of Stephanie McMahon, while Nick Khan remains the sole CEO.
Ringside News exclusively reported that Vince McMahon came back to the WWE offices in Stamford earlier this month. He also brought back Brad Blum as his Chief of Staff, just a month and a half after WWE let him go.
While speaking on Wrestling Observer Radio, Dave Meltzer noted that Saudi Arabia is trying to purchase Liberty, the media company that owns Formula One right now.
They tried to buy Formula 1, they got turned down but offered just under $20 billion. Liberty, which owns it, did not sell it. So don’t think they won’t make a big bid for WWE. Liberty is not so high and mighty, they have a deal similar to WWE deal, where they bring Grand Prix to Saudi Arabia every year. They’re willing to do business but not willing to sell, but WWE is looking to sell. They wanna acquire something big, a big-time major mainstream media purchase right now.
An ex-WWE star also wants WWE to be sold to Amazon. WWE CEO Nick Khan also believes Vince McMahon is ready to sell the company. The Rock also believes that WWE’s new owners should be as passionate as Vince McMahon. We’ll have to see if Saudi Arabia will end up buying WWE in the end.
Transcription by Ringside News
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