With all of the rumors and speculation running rampant, here are the facts about the potential sale of WWE and Vince McMahon’s inclusion.
With 2022 seemingly taking the cake as a monumental year for wrestling, as Vince McMahon fully stepped down and away from WWE, things could not just be left to rest. In December 2022, rumors began swirling that McMahon was seeking to return to WWE, though they would be shot down. This would not be the case as the world entered the new year, as in January 2023, Vince McMahon returned to the WWE Board of Directors before also being named Executive Chairman of WWE once again, as Stephanie McMahon stepped down from her position on the Board and as CEO. It was a massive shock to start the year, and fans soon found out that this was all tied to Vince attempting to sell the company. With so many reports and rumors out there, it can get confusing to try and learn about the impending WWE sale, so let’s break it down and see what every WWE fan should know about the process.
When Vince McMahon Returned To Power, He Changed The Rules And Has Full Say Over The Sale
After forcing his way back onto the WWE Board of Directors, reinstating George Barrios and Michelle Wilson alongside of him to bolster his side, Vince McMahon would make a massive change upon his return. Rewriting the company’s bylaws, the written rules of any company, Vince gave himself executive power with regard to not only a future sale of the company, but the media rights for WWE as a whole. This is huge, as WWE has their TV Deals with both Fox and USA coming up this year. Vince wrote in his return statement that he would need to approve of any media rights deal, meaning that the rest of WWE has to play ball with him if they want to stay on television.
Similar to the media rights deals, Vince McMahon now has full authority over a sale of the company, with that being indicated as his major goal since returning to power. While some fans remain hopeful that it is the sole reason behind Vince’s return, that does not appear to be the case, as just a week after his return to power, his own daughter would step away from the company fully. In the time since, Triple H has held multiple talent meetings to reassure wrestlers and employees that Vince will not be returning to running the weekly shows, though it having to be repeated regularly could be seen as a sign of the opposite.
Despite Rumors, WWE Has Not Been Sold To Saudi Arabia, Though It Is Still Possible
On January 10, 2023, rumors began circulating that a WWE sale had taken place, with Vince selling the company to Saudi Arabia. This seemed to stem from a number of places, first beginning on Reddit with a somewhat reliable leaker for past WWE news named Kermit. Wrestling journalists would begin teasing a major story breaking that night, with outlets soon reporting that there was a hot rumor spreading of a WWE sale. Over the following 24 hours, the wrestling world exploded with speculation that was ultimately shut down as a sale would not have been possible that quickly. Still, Saudi Arabia remains towards the top of the list of potential buyers for the wrestling company, as they are already in business with WWE and are looking to continue to wash away any of their own controversies with sports and entertainment endeavors.
Reports Indicate That If WWE Is To Be Sold, It Will Happen In Summer 2023 At The Earliest
In speaking on the Wrestling Oberserver Radio, Dave Meltzer explained, “Several media companies, the names that are out there, are all in the hunt. Nick Khan was in Los Angeles… went to the football game Monday night, so he wasn’t at Raw. Met with some heavy hitters, because the heavy hitters went to the college football championship game.” He added, “They’re looking to sell by the middle of the year. JPMorgan is helping them.” On top of the company enlisting JPMorgan to help with a sale, a number of names have come out as potential bidders. Disney, Comcast, Endeavor Media, the Saudi Arabian Public Investment Fund, and AEW’s Tony and Shahid Khan have been revealed as bidders for Vince McMahon’s Sports Entertainment giant. While it remains to be seen who the company will be sold to, speculation seems to lean towards Disney, Comcast, and Saudi Arabia being favorites.
With former Disney CEO Bob Iger returning to lead the company after a coup against disgraced company head, Bob Chapek, the company could be looking to expand once again, after major purchases of ESPN, Marvel Entertainment, and LucasFilm, with WWE looking very appealing. For Comcast, even the most casual WWE fan could understand why some expect this to be the route, with Comcast already being in business with the company through its media rights deals for Raw and NXT, as well as Peacock being the home of WWE. Should Comcast purchase the company, they could expand the WWE IP across all of their platforms, with more content, and even potentially integrating WWE into the Universal Studios Theme Parks, where they already sell WWE merchandise.
Lastly. there is Saudi Arabia. Rumors came out early after Vince’s return that the company had already been sold, or that there were ongoing negotiations between WWE and Saudi Arabia about a sale. With such hot rumors abound, there could very well be smoke to the fire as Saudi Arabia continues to try and rehab its image, while engaging in sportswashing, something they already have started with the LIV Golf League. Regardless of who Vince McMahon sells WWE to, it will be a major story when it happens, with reports now indicating that it will be done sometime during the middle of 2023. This will likely be one of the biggest news stories to ever come out of the wrestling world, as Vince McMahon would no longer own WWE, a massive shift for the wrestling ecosystem.