WWE has been sold to Saudi Arabia’s Public Investment Fund. Today we will discuss about WWE: Has been sold| Saudi arabia deal| Board of directors.
WWE: Has been sold| Saudi arabia deal| Board of directors
Vince McMahon was unanimously voted back on the board of directors for WWE after “retiring” last year after it was revealed that he allegedly paid millions of dollars to women after he sexually assaulted them.
Has been sold
After months of speculation, there have been multiple reports that WWE has been sold to the Saudi Arabian Public Investment Fund. Rumors have been circulating that as a result of the purchase, WWE will no longer be a publicly traded company, will go private and give control to Vince McMahon. McMahon “retired” and control of the television product passed to his son-in-law, Paul “Triple H” Levesque, resulting in a better TV product and higher ratings. Earlier on Tuesday, Stephanie McMahon resigned as co-CEO of World Wrestling Entertainment. a title he now shares with CEO Nick Khan.
Saudi arabia deal
WWE announced that it has signed a 10-year deal with Saudi Arabia. Its partnership with the General Authority for Recreation is focused on two “large-scale events” to be held annually in the country spanning 2018–2027. These events were to take place in either the capital city of Riyadh or Jeddah.
Board of directors
Vince McMahon was unanimously voted back on the board of directors for WWE after “retiring” last year after it was revealed that he allegedly paid millions of dollars to women after he sexually assaulted them.
"You are, an asshole!" – @TheRock and #WWE fans to Vince McMahon pic.twitter.com/GwHK8YFJdz
— NoDQ.com: WWE and AEW news (@nodqdotcom) January 11, 2023
How much does Saudi Arabia pay WWE?
Wrestlenomics on Twitter reported that the eight shows held by WWE in Saudi Arabia since 2018 have generated a total revenue of $400 million for the company. This figure comes from the fact that each of these events earns the company approximately $50 million.
What is WWE’s deal with Saudi Arabia?
WWE announced on November 4, 2019 that it has “extended” its partnership with General Authority for Entertainment through 2027, under which it will hold two “massive events” per year in the country. These events are held at venues in the capital city of Riyadh or Jeddah.
