WWE is owned and operated by Vince McMahon, but the idea has often been floated out there regarding what would happen if WWE was sold to the highest bidder. Hugo Savinovich believes that Vince McMahon very well might sell to Saudi Arabia.
If McMahon were in the mindset to sell his company, he might not be able to turn down a huge offer from a foreign country. Some things would need to be settled a bit first.
While speaking to Wrestling Inc, Hugo Savinovich opened up about WWE possibly being up for sale. He stated that Vince McMahon would likely want $3 billion more for WWE than the UFC got. The option is certainly there for Saudi Arabia to buy if they can make things work.
“I believe there is more to the business transactions. I have said this on my Live that I would not doubt that if Vince was to sell his company, it would probably be for about $8 billion because UFC sold for $5 billion. I will not say that Saudi Arabia would not be in the run to do that. Plus, they wanna get that contract and I haven’t heard anything official that that has happened because of difference in figures between what Vince wants and what they wanna pay. But they need to have a better relationship and until this quiets down… they don’t need a scandal because they already have enough on their hands. Saudi Arabia is trying to look for its future and they know the future is not gonna be oil because the more we modernize, the more we’re gonna have other sources. Right now, the United States is a powerful nation and they don’t need to depend on Saudi Arabia or the Middle East for oil. I think this is powerful people – WWE and Saudi Arabia – and they have alliances.”
“I wanna make it clear – I am a Republican. I voted for Trump and I will vote for Trump. So, this is not a Democratic guy burying Trump. I get a lot of heat because I stand with Trump. I’m just going to tell you what I feel in my heart and this is a gigantic money deal in the future that we don’t know yet and they wanna make sure in the future Saudi Arabia, oil will not be the king of their money. It will be more of the touristic side and WWE is looking at the future there. So, they are already in the business. There will be, perhaps, billions of dollars to be made in the new future of Saudi Arabia which I believe is gonna be the tourist industry and exotic, crazy adventures that they will create for people around the world.”
WWE and Saudi Arabia signed a 10-year deal. If they can’t return to the country this year due to COVID-19 they are going to tack on the missed date to the end of their contract.
Nothing is set in stone, and no discussions have been breached yet. We’ll have to see what happens down the line, but Vince McMahon might find it difficult to turn down a huge Saudi oil money deal according to Savinovich.