Is WWE still for sale after fake Saudi Arabia buyout news?
The bombshell of WWE being sold to Saudi Arabia caused a lot of confusion in the wrestling world. Multiple superstars were rumored to want to leave the company if such a deal came out to be true. Fortunately, the reports were deemed fake, but that doesn’t rule out Vince McMahon’s strategies for the promotion.
Since his return, McMahon has boldly carried out all his plans. Having resigned in disgrace last year, the former CEO executed his shareholding powers to secure himself a position on the Board of Directors. Vince was unanimously elected as the Executive Chairman on January 10 despite his legal troubles.
The 77-year-old plans to put WWE on sale to "maximize the profits" of the shareholders. Stephanie McMahon’s exit has streamlined future business proceedings. Expect more changes in the upper management before the time arrives for Vince to negotiate a new media rights deal.
Currently, WWE is not on sale but the company is reportedly exploring all options in the market and seeking advice from JP Morgan. Major companies such as Amazon, Netflix and Disney are in the play for a buyout. Saudi Arabia’s Public Investment Fund is also a heavyweight contender, although the PIF buying WWE won’t be well-received by fans and superstars alike.
All Elite Wrestling owner Tony Khan recently joined the fray. Owner of Fulham Football Club and Jacksonville Jaguars, his curiosity has been piqued by the news of the pro-wrestling Titanland going on sale in the future.
Vince McMahon planned to put WWE on sale a long time ago with Nick Khan as support
Mr. McMahon won’t be the only one adding to his net worth after WWE is sold. Speaking to AEW commentator Tony Schiavone on the What Happened When podcast, wrestling promoter Conrad Thompson disclosed the cut co-CEO Nick Khan would receive after the wrestling entertainment giant goes private.
“So he (Conrad Thompson’s friend) called his contact and said, ‘Dude, what’s up with Nick (Khan),’ he said, and this is years ago now, ‘Yea. He’s got a deal with Vince where in his contract, he gets a big payday when he helps facilitate the sale."
Thompson’s friend disclosed the amount Nick Khan would receive in a potential sale. According to the 41-year old, “it’s more than AEW’s TV contract is for a year.”
All Elite Wrestling reportedly earns around $45 million annually with its deal with Warner Bros Discovery Inc. The television deal originating in May 2019 is set for renegotiation next year.