A Twitter storm on Tuesday night gave way to endless speculation that WWE would be sold to the Public Investment Fund of Saudi Arabia. He whipped pro wrestling fans in a frenzy, almost blinding them the refusal that a sale had been completed by several prominent figures in the wrestling media. The weirdest part of the ordeal is the lack of a denial from WWE, even though the company is well aware of the rumors on the heels of The return of Vince McMahon to the company six months after his resignation.
DAZN’s Steven Muehlhausen first broke the news of the ‘sale’ but already deleted the tweet ‘announcing’ the news – less than 24 hours after publication.
The original tweet was picked up by a wide range of wrestling media outlets, who said they would check with sources to see if the smoke would lead to hell. For now, it looks like this smoke barely has any embers. As as toxic as these smoldering sticks are, a lack of official WWE commentary does not simply eliminate the possibility of the world’s largest professional wrestling company falling into the hands of the Kingdom of Saudi Arabia.
A WWE spokesperson did not to return to Request for comment from Deadspin.
The timing of WWE’s official sale is suspect, with McMahon officially returning to the company as executive chairman this week. Just before Muehlhausen’s original tweet, Stephanie McMahon, Vince’s daughter, resigned as co-CEO of the company, a role she originally held. after his father resigned. WWE also announced less than a week ago that it had partnered with JP Morgan Chase & Co. to help with a potential sale. Unless the Saudis write a blank check for the elder McMahon to cash whenever he wishes, which is not impossible but highly unlikely, any sale would have to be properly verified. And less than a week to do so is unlikely as the company’s shareholders would have to approve such a move.
Speaking of WWE shareholders, a class action lawsuit was filed against Vince McMahon in Delaware this week. Scott Scholars continues McMahonaccusing him of flaunting his over 80 percent voting control of the corporation to illegally impose its will on WWE, according to Bloomberg News. The lawsuit also mentions changes to the company’s board of directors and interference with media rights agreements.
While a sale of WWE to Saudi Arabia is by no means confirmed right now it’s easy to connect the dots, with the company hosting several premium Kingdom live events during the last years. It is also possible that this sale will happen eventually, due to the huge sums of money available to the public investment fund, as evidenced by the creation of LIV Golf and how the new golf promotion has courted many PGA stars on lucrative deals. It’s also clear that Muehlhausen jumped on some huge breaking news.