The Saudi Arabia Public Investment Fund is reportedly among the candidates to purchase the World Wrestling Entertainment (WWE).
Former WWE chairman Vince McMahon retired from the WWE in July of last year following allegations of sexual misconduct. The 77-year-old McMahon returned to the company this week and is reportedly looking at the idea of selling.
According to a report from Front Office Sports, the Saudi Arabia Public Investment Fund could step up as a possible buyer of the world’s largest wrestling promotion:
LIV Golf might only be the beginning.
“Saudi Arabia’s Public Investment Fund is emerging as a possible bidder for WWE if the promotion puts itself up for sale, sources told Front Office Sports.
PIF controls about $620 billion in assets. Vince McMahon’s sports entertainment company could be the next possible step in its global sports expansion.”
After Vince’s retirement, Stephanie McMahon and Nick Khan became the new co-CEOs of WWE. Paul Levesque (known by his ring name, Triple H) took over as the new Head of Talent Relations and the leader of WWE creative.
Saudi Arabia has a deal with WWE in which the company performs two major shows annually in the country. The first of these shows was The Greatest Royal Rumble, held on Apr. 27, 2018 in Jeddah. The most recent one, Crown Jewel 2022, took place on Nov. 5 in Riyadh.
The Saudi Arabia Public Investment Fund helped start up LIV Golf, a competitor to the PGA tour. Many prominent golfers such as Phil Mickelson, Brooks Koepka and Bryson DeChambeau.WANT MORE FROM TOTALPROSPORTS? FOLLOW US ON GOOGLE NEWS.