Report: Saudi Public Investment Fund Seen As Possible Bidder For WWE

According to sources of Front Office Sports, Saudi Arabia's Public Investment Fund is emerging as a potential bidder for WWE. 

PIF currently controls $620 billion in assets with Saudi Crown Prince Mohammad bin Salman as Chairman. WWE have close ties to the Middle Eastern kingdom through their 10-year partnership with the Saudi General Sports Authority. The company held their first pay-per-view in the country - Greatest Royal Rumble - in April 2018 and the partnership was expanded to two large-scale events per year in late 2019. 

LightShed Partners analyst Brandon Ross told Front Office Sports: "In the same way they did LIV, there's an unlimited faucet of dollars there. The Saudis are already a decent part of the profitability of the company just on those two [Saudi-based WWE] events alone. They're trying to be relevant in the entertainment world."

PIF have looked to move into sports and along with bankrolling LIV Golf, the Saudi sovereign wealth fund are the majority shareholder in English Premier League football club Newcastle United, having acquired the club in October 2021. 

Front Office Sports reported that PIF aren't the only possible bidders, though, and their sources noted other potential buyers would be Amazon, Comcast, Endeavor, Liberty Media, and CAA. 

Talk of a WWE sale comes after Vince McMahon returned to the company, electing himself, Michelle Wilson, and George Barrios to the Board of Directors. Reports noted that McMahon made a return to pursue a sale of the company and it was mentioned at today's employee meeting that WWE would consider potential sale offers ahead of any TV rights negotiations, although it was emphasised that WWE might not be sold. Taking the company private was also touted as another "possible avenue" if it was "the best outcome for shareholders." 

McMahon resigned as WWE CEO and Chairman in July 2022 amidst a sexual misconduct and hush money scandal. It emerged in the summer that McMahon allegedly spent $14.6 million to suppress allegations of sexual misconduct and infidelity between 2006 and 2022, with a further $5 million being paid to the Donald Trump Foundation. The money, while paid by McMahon, should have been recorded in the company's accounts but it was not which has led to federal prosecutors and the United States Securities and Exchange Commission opening investigations into the payments.