As PWMania.com previously reported, Vince McMahon recently rejoined the WWE Board of Directors, along with George Barrios and Michelle Wilson, to help negotiate new TV deals for Raw and SmackDown and to look into a possible company sale.
Following Stephanie McMahon’s resignation from WWE on Tuesday, social media exploded with rumors of a potential WWE sale, with WWE agreeing in principle to sell to the Saudi Arabia Public Investment Fund.
On Wrestling Observer Radio, Dave Meltzer provided the most recent update on the status of a WWE sale, stating that the company has not been sold.
Meltzer stated that he had a “long conversation” with WWE employees Wednesday night and added, “They’re not sold. Saudi Arabia is in the hunt. They’re one of the companies, one of the places that’s looking for it… several media companies, the names that are out there are all in the hunt.”
Meltzer went on to say that instead of being at Raw, Nick Khan was in Los Angeles, meeting with some “heavy hitters” at the college football championship game, including The Walt Disney Company CEO Bob Iger and ESPN President Jimmy Pitaro.
“They’re looking to sell by the middle of the year. JP Morgan is helping them. Saudi would be the only ones as far as if they want to go private, that would be the one. The other ones are public companies. Endeavor is obviously also in the hunt. There’ll be a decision made at some point. There’s definitely smoke about the Saudi Arabia story., but it’s early. It’s too early for the deal to be finalized, but that one can happen too.”
Meltzer went on to say that WWE is “absolutely” for sale and that preliminary talks are underway.
(h/t to WrestlingNews.co for the transcription)
