Backstage News On 'Smoke' To Saudis Buying WWE Reports

The fireworks have continued behind the scenes at WWE headquarters since the turn of the year. It began when former chairman and CEO Vince McMahon reinstated himself to WWE's Board along with former WWE executives George Barrios and Michelle Wilson. The 77-year-old McMahon, who retired amid sexual misconduct allegations in July 2022, said he wanted to assist the promotion with upcoming U.S. media rights negotiations and pursuit of a sale. The plot thickened earlier this week when Stephanie McMahon resigned as Co-CEO, followed by rumors that WWE had been sold to Saudi Arabia's Public Investment Fund hours later. However, the rumors were apparently off the mark. More details have now emerged regarding WWE's potential sale. 

On the latest "Wrestling Observer Radio," Dave Meltzer disclosed that he had a "long talk" with WWE, which revealed the company was not sold. Still, Saudi Arabia's PIF was "in the hunt" alongside other potential bidders. The longtime journalist indicated that there is "smoke" to the Saudi story that has been the talk of the pro wrestling world over the past few days. 

Furthermore, it was noted that WWE CEO Nick Khan recently met with some significant individuals, including Bob Iger, the CEO of The Walt Disney Company. Additionally, with all the legal intricacies of selling a publicly traded company, the hope is that WWE will be sold by the "middle of the year." Meltzer added that if WWE is looking to become a privately held company for the first time since October 1999, then Saudi Arabia's PIF is said to be the best deal. He suggested the promotion would remain public if one of the other bidders prevailed.

If you use any quotes, please credit "Wrestling Observer Radio" with a H/T to Wrestling Inc.