According to multiple reports, a sale of WWE has not occurred.
In the hours following the news of Stephanie McMahon’s resignation as the company’s co-CEO and Chairwoman, speculation grew regarding a sale of the company with the purchaser being Saudi Arabia’s Public Investment Fund with plans to take the company private. The interest of the PIF as a possible bidder was first reported last Friday by Front Office Sports.
Outlets and reporters including TMZ, CNBC, Brandon Thurston, and Ariel Helwani denied that a sale has been made. Sean Ross Sapp of Fightful reported through sources at WWE, who were adamant that “no sale to Saudi Arabia has taken place as of yet.”
Immediately after the news of Stephanie McMahon’s resignation, WWE issued a press release that the board of directors had unanimously elected Vince McMahon as its Executive Chairman after returning to the board last week. His removal last summer followed revelations of hush money payments made to women that were not properly recorded as company expenses.
Nick Khan has been named the sole CEO moving forward and is in the middle of a five-year contract with WWE that began in August 2020.
The company stock soared after news of a possible sale last week and traded over $92 when the market opened on Wednesday.
POST Wrestling has reached out to officials at WWE but have not received any statements yet.
