Saudi Arabia Has ‘Definite Interest’ In Buying WWE

Vince McMahon has garnered a substantial amount of media attention over the past year due to his involvement in a highly publicized pay-for-silence scandal that was closely watched by the professional wrestling world. Despite the intense scrutiny, he was able to maintain his position as the majority shareholder and Executive Chairman of WWE, giving him immense sway over the future of the company. In fact, Saudi Arabia has a definite interest in buying WWE even now.

Vince McMahon’s return to the Board of Directors was met with significant backlash, as it was viewed as an aggressive attempt to regain power over WWE. Despite facing numerous challenges, he eventually assumed the role of Executive Chairman following Stephanie McMahon’s resignation, while Nick Khan continued as CEO.

Vince McMahon’s comeback was largely so that he could set up WWE for a potential sale, something that has been a huge topic of discussion for numerous years in the pro wrestling world. Many huge buyers are also said to be up for consideration.

According to Dave Meltzer on the Wrestling Observer Newsletter, Saudi Arabia has a definite interest in buying WWE and there is a good chance that might just be what happens.

“We know someone involved on the Saudi side about the sale this past week and there is definite interest. It’s not considered as important as Formula 1, which they wanted but doesn’t look like they can get, or LIV Golf.

But they are looking for properties that they can get to either No. 1 in their market, or in the case of their soccer investments, they want their league to be top five and have interest already in one team in the EPL (the highest profile league in the world’s most popular sport) and have interest in something with Manchester United (the highest profile team in the world).

What they want are franchises that have a worldwide fan base, preferably big in the U.S., and they are not looking at them for revenue or profitability, but to bring publicity to their country and normalize the world views of their country.

It’s completely different from Endeavor or any other purchaser’s goal would be, which would be to buy the company based on it being able to turn gigantic profits.

A Saudi purchase could change the salary structure more as it has with the top golf pros who left the PGA tour. But as far as bidding for talent, it could totally change the game. If someone else gets it, you would expect far more changes and a budget based on maximizing profits.

It’s what’s being called sportswashing, where you bring in high profile sports events to the country and own major franchises with the idea that people think you are a big part of the accepted sports world and it washes away the stench of human rights differences and violations.

Even for people like Tony Khan or Endeavor, while they could raise a lot of money, they would be looking at it as a business acquisition and not a publicity arm where making money long-term on the deal is the goal.

That goes the same for media companies. While those in WWE have told me they prefer to sell to a media company, most stories indicate media companies aren’t looking for that level of a purchase because of uncertainty over the future changes in consumption.”

There are still quite a few potential buyers for WWE, which includes even Tony Khan and his father Shahid Khan. UFC’s parent company, Endeavor, is also in the discussion, but Saudi Arabia seems the most likely buyer right now. We’ll have to wait and see whether WWE will be sold by their projected middle of 2023 time frame.

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