EXCLUSIVE: Potential Reason JPMorgan Was Hired For WWE Sale

More on JPMorgan working with WWE

After announcing his retirement from WWE in July of 2022, Vince McMahon went back on his plans to stay at home in the new year as he returned to the company, electing himself, Michelle Wilson, and George Barrios to the WWE Board of Directors on January 5 despite the Board urging him not to come back. McMahon was then elected unanimously by the Board as Executive Chairman on January 10, with it being announced at the same time that Stephanie McMahon had resigned from the company. 

Vince McMahon made his return to WWE to pursue a sale of the company and a report from CNBC noted that the organisation have hired JPMorgan to help advise on any potential deal that could be agreed. It initially appeared during the early hours of January 11 that a deal had been agreed in principle for the sale of WWE to the Saudi Arabia Public Investment Fund but several reports have since emerged denying that is the case

There does appear to be some smoke to the fire in regards to the PIF as a potential bidder for WWE, though. According to sources, JPMorgan were hired by WWE to advise on a sale because they are the only United States-based financial institution with two operating licenses in Saudi Arabia. 

JPMorgan confirms as much on its website, writing: "We are the only U.S.-headquartered financial institution with two operating licenses in Saudi Arabia, providing access to a comprehensive range of products and global banking capabilities for clients in the country. We are regulated by the Saudi Arabian Monetary Authority and the Capital Market Authority."

Cultaholic Wrestling have been unable to confirm if WWE are currently in talks with the PIF, however. 

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Aidan Gibbons

Written by Aidan Gibbons

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