Picture Credit: Twitter
Following Stephanie McMahon’s resignation as Chairwoman and Co-CEO of WWE, some big news has been doing rounds. According to several reports, it has been revealed that WWE has been sold to Saudi Arabia’s Public Investment Fund.
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These rumours have been doing rounds after Vince McMohan returned to the sports entertainment company after retiring from it last year. The 77-year-old was unanimously elected as the Executive Chairman of the Board after Stephanie’s resignation. However, in the press release it was confirmed that Nick Khan will now be the sole CEO of the company.
Steven Muehlhausen of DAZN.com broke the news on Twitter. “Sources: WWE has been sold to Saudi Arabia’s Public Investment Fund. The company will go back to being private. Un known if Vince McMahon will return to head of creative, but it is expected by some people.”
The news still hasn’t been confirmed by any WWE official. But if this comes out to be true, the WWE will go private with the PIF’s takeover.