In a big development, reports on Wednesday morning stated that American professional wrestling promotion WWE is being sold to Saudi Arabia’s Public Investment Fund. The reports emerged hours after Stephanie McMahon announced her resignation from the company and her father Vince McMahon returning as the Chairman of the Board.
As reported by DAZN pro wrestling reporter Steven Muehlhausen, Vince, who is also the controlling shareholder of WWE, made the business to get the company off the public stock market and once again being a private business.
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.