WWE was having a great summer. Vince McMahon stepped down after the discovery that he had used company money to keep women from revealing they had affairs with him. There were also accusations of sexual harassment and assault. After Vince stepped down, his daughter Stephanie McMahon took over business operations. Paul Levesque, a wrestling veteran known as HHH, took over as head of creative. As a fan, I can tell you that the product got better. Spirits backstage were high. Things were looking bright for the WWE.
Then somehow, Vince McMahon returned.
Insisting that he only stepped down due to bad advice, Vince’s return swiftly went from rumor to truth. He put out a statement saying that it would not affect day-to-day operations at the company. The claim was that he was there to help facilitate a sale of the company. A sale had been rumored since the WWE Network moved to Peacock, so this wasn’t new. However, things ramped up this past weekend when rumors began swirling about who would buy the company. Listed among possible names was Saudi Arabia’s Public Investment Fund.
Just last night, reporter Steven Muehlhausen tweeted that WWE had been sold to Saudi Arabia. It set off a flurry of reactions, but surprise wasn’t necessarily one of them. WWE has been linked to Saudi Arabia for years. They do a yearly show there. Surely they wouldn’t be shy about doing this. Vince also clearly doesn’t care how he looks to people. There is a very good chance that the WWE will end up being a product of Saudi Arabia.
Muehlhausen has since deleted the tweet, but that doesn’t mean things are done. Apparently, WWE still needs to alert shareholders before they finalize the sale. However, the deal seems to be in the works. In other words, it’s a great time to start watching WWE’s competitor, AEW, if you don’t already.