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Is that a rib? You’re hitting on us, aren’t you?
Twenty-two years after Vince McMahon gleefully boasted “I bought my competition” when acquiring Ted Turner’s WCW, the now 77-year-old wrestling mogul is rumored to be selling World Wrestling Entertainment to the Saudi Arabia
Saudimania
So far, 2023 has been a survivor match for WWE. Last year, McMahon walked away from the company after it was revealed that he allegedly paid millions in hush money to several women over decades of sexual misconduct claims. He was still the majority shareholder, but his role as creative director and his “evil boss” “persona” in the ring were no more.
McMahon’s daughter Stephanie took on the role of co-CEO with Nick Khan, and son-in-law Paul “Triple H” Levesque stepped up as the creative voice, which many fans appreciated after decades of dignified management style and strangely sinister from McMahon. – once fired a wrestler for smiling during a segment. Oh, and he also doesn’t like the word “wrestler” being mentioned on his show.
But last week, McMahon returned to the company as a board member and suggested he would sell the business. Stephanie has since stepped down as CEO and many experts believe WWE is ready to sell to Saudi Arabia’s Public Investment Fund. It’s not far-fetched, as WWE already has close ties to the Gulf nation:
- In 2018, WWE entered into a 10-year partnership with the Saudi Arabian Ministry of Sports to host two events per year in the country. WWE received backlash for associating with a country responsible for numerous human rights violations and the murder of journalist Jamal Khashoggi, but Vince saw dollar signs. Just one event in Saudi Arabia generates roughly $50 million in revenue, roughly three times more in ticket sales than Wrestlemania, WWE’s show of shows.
- Saudi Arabia has been on a big sports spending spree. The nation invested heavily in Formula 1, bought an 80% stake in Newcastle United football club and started the absurdly wealthy but much criticized LIV golf league, which has poached PGA greats such as Phil Mickelson and Dustin Johnson.
Fans are debunking the rumored deal and worry it could spell bad news for WWE’s women’s division, which McMahon has long treated as an afterthought. After all, women in Saudi Arabia were only recently allowed to drive their own cars, so it’s hard to imagine them being allowed Pump Handle fallaway shocks. The public is also showing support for Sami Zayn, who Saudi Arabia has never allowed to perform inside the country due to his Syrian heritage.
“TBH I’ll follow @SamiZayn wherever he goes. The man is a genuine ACTOR and oozes charisma,” one fan tweeted. “No joke, that alone is a legitimate reason not to sell to Saudi Arabia.”
Know your role, Jabroni: As much as Vince McMahon delights in defining CAD on the downside, even he can’t make a deal with the Saudis with the snap of a finger. WWE is publicly traded, so shareholders have yet to be informed of any such deal through SEC filings. Other rumored buyers include Comcast and Disney. One thing is for sure, there is Not a chance in hell WWE will retain all of its fans if a Saudi deal materializes.
