In a short passage of time, Saudi Arabia has managed to make its mark in the world’s sports and entertainment industry. From its recent deal with Cristiano Ronaldo for Al Nassr, Saudi Arabia is now looking to take over the biggest wrestling organization WWE.
Unconfirmed: Saudi Arabia’s PIF buys WWE
According to several reports, former WWE CEO and the major shareholder of the company Vince McMahon has allegedly sold the World Wrestling Entertainment (WWE) to Saudi Arabia’s Private Investment Fund (PIF) which has plans to privatize it later.
Purportedly, a few days back, rumors of Saudi Arabia’s PIF making a bid of $6.5 billion on WWE started circulating but nothing was confirmed.
Previously, in 2018, WWE signed a 10-year-long contract with Saudi Arabia with a deal to host two top-tier events every year till 2028. The contract was signed for $1 billion.
What do you think of the decision? Let us know in the comments section below!
