Saudi Arabia’s Public Investment Fund is emerging as a possible bidder for WWE if the promotion puts itself up for sale. PIF controls about $620 billion in assets. Vince McMahon’s sports entertainment company could be the next possible step in its global sports expansion.
WWE has a deep history with Saudi Arabia, holding its Crown Jewel, WWE Live, and Greatest Royal Rumble events there in recent years. WWE has a 10-year agreement to hold two live events per year in the Kingdom with the deal worth $100 million a year.
“In the same way they did LIV, there’s an unlimited faucet of dollars there,” stated LightShed Partners analyst Brandon Ross. “The Saudis are already a decent part of the profitability of the company just on those two Saudi-based WWE events alone. They’re trying to be relevant in the entertainment world.”