Vince McMahon Returns & Sells WWE To Saudi Arabia’s Public Investment Fund?
Whether it’s on tv or in real life, Vince McMahon certainly knows how to put on a show. Last year, the 77-year-old McMahon was asked to leave his role as allegations against him were gaining significant steam. During that time away, his daughter Stephanie McMahon assumed the position of co-CEO alongside Nick Khan. Her husband, Paul Levesque, also known as ‘HHH’, would be head of creative, a position Vince held for many years.
The company saw a new direction, and the fans were enjoying the different approach that was being taken with the storylines and character development. This week, news hit the wire that Vince was ready to come back and that his return would accompany some deals that are on the table which would dictate the future of WWE. The board voted for his return, and the next domino that fell was his daughter Stephanie stepping down as co-CEO, which made Nick Khan the company's CEO. This press release was sent out by Stephanie, thanking the WWE Universe and the opportunities she has had with the company.
Now comes the more interesting news which set social media on fire. Steven Muehlhausen (Head of social media for Pro Wrestling/Video Reporter @DAZN_Wrestling/@DAZNMMA) sent shock waves by tweeting,“Sources: #WWE has been sold to Saudi Arabia’s Public Investment Fund. The company will go back to being private. Unknown if Vince McMahon will return to head of creative, but it is expected by some people.”
This comes as a surprise, but it seems like Vince has been putting this deal together while he was away from the company. McMahon has been in the business for a long time and is always on the cutting edge of what is “next”. The WWE Network app set the tone years ago for what is now commonly used in the digital era. The question now becomes, what does this all mean? Will the WWE revert to exclusively a streaming service, and if not, will they be able to secure domestic TV deals?
There are a lot of questions to be answered but I feel more dominoes will continue to fall, like the one that says ‘HHH’ will follow his wife out of the company in the coming days. This year has started with a bang, so this situation needs to continue to be monitored.
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