WWE fans were treated to a huge helping from the rumor mill this week, because a report came out that Vince McMahon was very close to finalizing deal to sell WWE to Saudi Arabia. That report was later shot down, and stock prices fell because of it. It turns out that this story wasn’t taken too serious internally.
Ringside News reached out to our sources in WWE to gain some sort of clarity about this situation. We were told by a tenured member of the team that, “Everyone in the office was talking about the Saudi reports, but most were laughing about it.”
This report about Saudi Arabia buying WWE would be earth-shattering for the pro wrestling world. There was never any confirmation from our sources that there was any deal in place at all.
It was noted to us that people within WWE found the report comical, “because of how so many people who fancy themselves as journalists were positioning it as ‘their’ scoop, ‘their’ exclusive, when nothing was substantiated or true.” Nobody took it seriously, which is why TMZ later debunked the story.
WWE is always changing, and that is nothing new. The fact that WWE is positioning itself to sell the company is certainly going to shift the company’s landscape if a sale goes through.
At this time, WWE is not close to finalizing any sale, especially with Saudi Arabia. The fact that this report gained can be contributed to a number of things, including the unpredictable nature of professional wrestling.
What’s your take on this situation with WWE selling the company? Sound off in the comments!