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According to a report from TMZ Sports, World Wrestling Entertainment (WWE) has not been sold to Saudi Arabia’s Public Investment Fund, despite widespread rumors to the contrary. Sources familiar with the situation stated that a deal has not been made between the two sides.
The news of the potential sale began to circulate on Tuesday night, with many speculating that Vince McMahon, the majority owner of WWE and chairman of the board, had secured a significant payout for handing over the company to Saudi Arabia’s Public Investment Fund, which would take the WWE private once again. This was further fueled by the fact that Vince McMahon had recently returned to the organization’s board of directors, with the intent to help with TV deal negotiations and explore a potential sale of the company.
However, it appears that these reports of the sale were false and the speculation was unfounded. According to TMZ Sports, there is no deal in place between WWE and Saudi Arabia’s Public Investment Fund. This news came as a surprise to many, as the rumors of the sale had gained significant traction on social media and in the media.
It’s worth noting that Saudi Arabia’s Public Investment Fund is one of the largest sovereign wealth funds in the world, and it has been actively increasing its ownership stakes in various companies and sectors in recent years, with a focus on diversifying the Saudi economy and supporting the country’s Vision 2030 development plan.
The WWE, on the other hand, is a global entertainment giant that reaches millions of people around the world. The potential sale of the company to a sovereign wealth fund of a foreign country would have significant implications not just for the company, but also for the entertainment industry as a whole.
As of now, the future of WWE remains uncertain. The speculation of a sale to Saudi Arabia’s Public Investment Fund has not been confirmed and it’s still unclear what the future holds for the wrestling giant. Fans and industry analysts will be waiting with bated breath to see how this situation unfolds.
