Update On WWE's Return To Saudi Arabia In 2020

WWE Reportedly Sold to Saudi Arabia Public Investment Fund

— WWE delivered some blockbuster news yesterday first with the resignation of co-CEO and Chairwoman Stephanie McMahon who stepped down immediately before the company sent out a press release revealing that founder Vince McMahon was back on the Board of Directors and appointed Executive Chairman.

— It appears the huge news may not stop there as unconfirmed reports last evening are suggesting that WWE has been sold to the Saudi Arabia Public Investment Fund, first reported by DAZN reporter Steven Muehlhausen. If true, it is believed that the Saudi PIF will take the company private while retaining Vince McMahon in some capacity, perhaps to head up creative. Note this is still a developing a story and has not been corroborated with other sources. A request to WWE for a statement on the matter predictably was not returned. WWE’s stock price continues to inch higher in after-hours trading, sitting at a shade over $90 per share, a massive 30%+ increase from just five days ago when all shakeup first began.

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