The rumor of the purchase of WWE by Saudi Arabia grows
WWE management has been in the spotlight for the past few hours. We recently reported Stephanie McMahon’s departure of the position of co-CEO of WWE. The authority returns to the pause that had been taken weeks before being positioned after the withdrawal of his father.
Later, WWE reported the return of Vince McMahon to the presidency of the board of directors after being elected unanimously by the members of the table. The position occupied again by Vince will allow him accelerate a possible sale of the companywhich has already occurred according to several journalists close to the company.
The portal body slam circulated the rumor that the public investment fund of Saudi Arabia closed the agreement for the purchase of WWE. The news was taken with a grain of salt by other journalists, who say the company has remained silent on the matter. Others like Steven Muehlhausen of DAZNNews gave credence to that statement, clarifying that it is a matter of time before the new owners make more changes in your administrative sector. Not knowing if it’s related to this, Bryan Alvarez of the Wrestling Observer stated that “monstrous” news could be coming in the next few hours.
WWE privatization appears to be imminent as more rumors begin to circulate. If this happens, the shareholders of the company would be unable to sell their ownership part. On the other hand, the company would stop responding directly to US government laws, operating under much more autonomous rules. It should be noted that neither WWE nor the state of Saudi Arabia have mentioned this fact as official.
Since its first event during 2018, the alliance between WWE and Saudi Arabia has been strongly criticizedfor the general public. The wrestling company has opted to go ahead with its biannual shows in this country despite the bad reputation that has surrounded its kingdom and the tense international relations with the United States. Both parties have an event agreement until 2030with the possibility of extending a couple more years after the COVID pandemic.
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