Pro-wrestling company WWE sold to Saudi Arabia Public Investment Fund: Report - know details!

WWE SOLD to Saudi Arabia: The world’s largest pro-wrestling company WWE (World Wrestling Entertainment) has been bought by Saudi Arabia's Public Investment Fund, a WION's report said quoting  DAZN's Steven Muehlhausen on Wednesday, January 11, 2023.

The development of WWE being sold to Saudi comes shortly after Stephanie McMahon resigned as Chairwoman & Co-CEO of the pro-wrestling company.

However, no official announcement has been made by the company. WWE is yet to confirm or deny the report of its sale to Saudi Arabia's Public Investment Fund.

As per the WION report, DAZN's Steven Muehlhausen said WWE "will go back to being private" for the first time since October 1999.

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Stephanie McMahon resigns
Earlier this morning, Stephanie McMahon resigned as chairwoman. She took this decision less than a week after her father Vince McMahon came out of retirement and took over as chairman of the board.

Earlier, Vince McMahon resigned as the WWE chairman in July last year. "At 77, time for me to retire. Thank you, WWE Universe. Then. Now. Forever. Together." McMahon tweeted.

At 77, time for me to retire.
Thank you, WWE Universe.
Then. Now. Forever. Together. #WWE #thankful

— Vince McMahon (@VinceMcMahon) July 22, 2022

Nick Khan the sole CEO
"With Nick's leadership and Paul 'Triple H' Levesque as a Chief Content Officer, I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders," McMahon wrote in a statement released on Twitter. 

Then. Now. Forever. Together. pic.twitter.com/8dqr5reIiv

— Stephanie McMahon (@StephMcMahon) January 10, 2023

The statement added, "WWE is in such a strong position that I have decided to return to my leave and take it one step further with my official resignation. I look forward to cheering on WWE from the other side of the business, where I started when I was a little kid, as a pure fan."

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About WWE
World Wrestling Entertainment (WWE) is the largest professional wrestling company with worldwide broadcast deals. It is an integrated media organization and recognised leader in global entertainment. The company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience.

WWE’s TV-PG programming can be seen in more than 1 billion homes worldwide in 30 languages through world-class distribution partners including NBCUniversal, FOX, BT Sport, Sony India, and Rogers.