McMahon sells WWE to Saudi Arabia’s Public Investment Fund

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According to rumours, the American professional wrestling organisation WWE has been sold to Saudi Arabia’s Public Investment Fund. The reports surfaced just hours after Stephanie McMahon resigned from the firm and her father, Vince McMahon, was reinstated as Chairman of the Board.

According to DAZN pro wrestling writer Steven Muehlhausen, Vince, who is also WWE’s main shareholder, made the decision to take the firm off the public stock market and back into private hands.

WWE, a professional wrestling company, has broadcasting agreements all around the world. According to CNN, the company went public on August 3, 1999. The McMahon family once owned it.

Vince had previously stated that he intended to sell the firm upon his return, so the news of WWE being sold to Saudi Arabia should come as no surprise.

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