Vince McMahon, the long-time head of World Wrestling Entertainment, recently returned to the position following a departure linked to allegations of sexual harassment. Along with his reinstatement came new speculation about what would become of the WWE.
An international sale
Although pro wrestling has been a mainstay of U.S. culture for generations, there’s also plenty of interest in such events around the world. One prominent rumor that has emerged since McMahon came back is that the entire organization is being sold to the Saudi Arabian Public Investment Fund.
If true, this would essentially make the WWE a private entity and could result in a huge financial windfall for McMahon. As it stands, however, there’s no concrete evidence that such a deal is in the works.
What’s the truth?
Wrestling fans are grasping for verifiable facts regarding what will become of the organization, but so far there aren’t many confirmed details to report. What does seem clear, however, is that McMahon’s return to the helm of the WWE is somehow connected to a desire to sell the company.
Whether that’s to Saudi Arabia or not remains to be seen. In fact, CNBC reported that streaming services, network and cable channels, and other domestic entertainment companies could be preparing to submit a bid to buy the organization.
A complicated history
Some of the rumors surrounding the WWE and Saudi Arabia might be linked to the fact that the Middle Eastern nation has a decade-long arrangement with the company to host wrestling matches within its borders.
That deal (not to mention a possible outright sale of the organization) has been met with criticism over the fact that Saudi Arabia has a troubling track record of human rights violations. A Saudi-owned WWE could result in discrimination against women and LGBTQ wrestlers.