CNBC stated just hours before WrestleMania 39 Night Two that WWE might be bought as soon as Monday. Since January, Vince McMahon has been working on a possible selling of the business; early rumours suggested a partnership with Saudi Arabia’s Public Investment Fund.The Endeavor Group, the parent company of Ultimate Fighting Championship, may be close to an agreement with the powerhouse of sports entertainment, according to CNBC’s Alex Sherman. The two promotions are anticipated to create a new publicly traded company as part of the agreement, according to Sherman, who said that a deal could be revealed as soon as Monday.
According to the people, Endeavor will retain 51% of the new combat sports and entertainment business while shareholders will receive 49%. WWE’s enterprise valuation, according to them, is $9.3 billion thanks to the Endeavor deal. Source: CNBC
Early rumors suggested a WWE sale to Saudi Arabia
On social media earlier this year, rumours circulated about a potential selling of the promotion to the Public Investment Fund of the Kingdom of Saudi Arabia. A source close to the situation was contacted by our own Chris Featherstone to confirm the rumours were untrue after a 24-hour time during which supporters, detractors, and those employed by the company expressed their annoyance at the very notion.
His source claimed that at the time, morale within the business was at an all-time low. There were rumours that a sizable group of performers were prepared to quit if the business did approve of such a deal. Days after the rumours of the Saudi deal started to circulate on social media, Triple H and other executives also refuted them in a talent gathering. However, Vince McMahon’s return to the organisation was motivated by a desire to close a deal, and it appears that we now know who the intended purchaser is.
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