After a long drama in the company, in July 2022 Vince McMahon finally stepped down from his position of Cheif Executive Director of World Wrestling Entertainment(WWE), along with his daughter Stephanie McMahon and son-in-law Paul Michael Levesque AKA Triple H as chairpersons.
Now American businessman Nick Khan took over as the president and Stephanie as the co-CEO of WWE. Triple H will be working on the creatives after being the creative head of the company.
However, Mr. McMahon made his return to the company and instantly became a part of the board of Directors. This also marked the withdrawal of daughter Stephanie McMahon from her position.
Vince has been trying to sell the company since his return and many reports have been flying around regarding the sale. WWE is still up for bidding and former president, Vince McMahon is seeking $9 Billion dollars.
According to the Bloomberg Law report, McMahon put WWE on sale for $9 Billion dollars while the company’s market value is at $6.65 billion. Though it is not clear who are the potential buyers and when it’s going to happen.
According to Bloomberg reporter, Lucas Shaw noted on Twitter, “sources have expressed skepticism that many traditional media companies will buy the WWE. But there are definitely some interested parties (like Endeavor the Middle Eastern)”
Endeavor is currently valued at $10 billion and must be needing financial help from another party who might show interest in this deal, while Saudi Arabia Public Investment Funds on the other hand is valued at 620 Billion Dollars. They already owned stakes in companies like Amazon, Google, Uber, Disney, Starbucks and etc, recently they brought English Football Club, Newcastle F.C.
WWE’s biggest competitor AEW’s Tony Khan also showed his interest in buying the company, He said, “I am interested in the news that there is potentially a sale process and certainly I think we’ve shown when there are acquisitions, and transactions, we’re capable of making the big purchases,”
It would be very interesting to see who will buy the biggest wrestling entertainment company, with this much history and fame.
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