Late Tuesday night, shockwaves were sent through the wrestling world as it was being reported by multiple sources that a deal was in the process of being struck for a WWE sale to Saudi Arabia. Early Wednesday morning however, those reports are being questioned as sources close to the situation are confirming there is no deal in place or no imminent WWE sale to Saudi Arabia or any other entity for that matter.
I concur with @RichLightShed. I asked someone at WWE, who would know, who said the story that took hold of Twitter last night, about WWE and Saudi Arabia being near a deal to take the company private, is untrue.
— Brandon Thurston (@BrandonThurston) January 11, 2023
Contrary to reports stating otherwise last night, there is no deal in place at this precise moment for WWE to be sold to Saudi Arabia’s Public Investment Fund or any entity, sources say.
The organization is still exploring all options, I’m told. Developing.
— Ariel Helwani (@arielhelwani) January 11, 2023
As Ariel Helwani notes, his sources are telling him that WWE is still exploring all of their options. It makes sense given the company just hired JP Morgan to help navigate a sale a few days ago. That move would feel unnecessary if WWE had already had a deal in place or in principle even, to sell to Saudi Arabia’s Public Investment Fund.
Fans are speculating on Twitter that WWE itself may have teased reports of a sale to test the waters and get a sense of how severe the backlash would be among wrestlers, employees, and the WWE Universe. Others have speculated it was a move to bump up the value of the stock in advance of a pending sale. Whatever the reason for the initial reports, it seems at least for the time being, that there is no truth to a WWE sale to Saudi Arabia as the company. One thing is certain though, all eyes will be on WWE over the coming days, weeks, and maybe months, awaiting the announcement the company has sold. Whether that will be to KSA, Comcast, Disney, Amazon, Fox, or some other entity remains to be seen.
Stay tuned to the Last Word on Pro Wrestling for more on a potential WWE sale to Saudi Arabia and other stories from around the world of wrestling, as they develop. You can always count on LWOPW to be on top of the major news in the wrestling world, as well as to provide you with analysis, previews, videos, interviews, and editorials on the wrestling world. You can check out an almost unlimited array of WWE content on the WWE Network and Peacock.