Vince McMahon’s shocking return to WWE last week has led to a major development in the company and its future.
McMahon returned to the WWE Board of Directors alongside George Barrios and Michelle Wilson to help negotiate the new TV deals for Raw and SmackDown and explore a potential company sale.
On Tuesday, Stephanie McMahon resigned from WWE as Chairwoman and co-CEO. Vince was named Executive Chairman of the Board, while Nick Khan is the CEO.
Rumors started coming out on Tuesday night about a potential WWE sale, with WWE agreeing in principle to sell to the Saudi Arabia Public Investment Fund.
“Contrary to reports stating otherwise last night, there is no deal in place at this precise moment for WWE to be sold to Saudi Arabia’s Public Investment Fund or any entity, sources say. The organization is still exploring all options, I’m told. Developing. Worth noting that the original tweet stating it was a done deal has since been deleted.”
The tweet by Steven Muehlhausen of DAZN.com about WWE being sold to Saudi Arabia’s Public Investment Fund, which was highlighted below, has been deleted.
Sean Ross Sapp Of Fightful has provided some updates through Fightful Select and Twitter.
People on the writing team and in production have not been informed of a sale. There has been incredible concern among staff and talent about the future, regardless of Vince being back in control.
Sean Ross Sapp noted this morning that “there have been multiple wrestlers who have told me they’d leave WWE if the company ends up being Saudi Arabia-led.”
While speaking on Wrestling Observer Radio, Dave Meltzer also confirmed a lot of nervousness about uncertainty in the company for talent.
Sources: WrestlingNews.co and PWMania
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