According to sources, Vince McMahon is reportedly looking to sell World Wrestling Entertainment (WWE) for a potential $9 billion deal. McMahon, who is currently 77 years old and the controlling shareholder, returned as the executive chairman of the company in January to lead a review of its strategic direction. McMahon’s decision to step back into the role came after he previously left the company in 2022 amid allegations of paying millions of dollars to settle sexual misconduct claims.
The stock price of WWE has been driven up by 30% due to acquisition rumors. As of February 17, the shares of WWE surged by 4.9% and reached $91.48 at the New York Stock Exchange (NYSE). The asking price was significantly higher than the previous day’s closing price, with a 37% increase, exceeding the company’s $6.5 billion market value.
Unnamed sources with knowledge of the matter have revealed that WWE has reportedly received acquisition offers, but the company has declined to comment on the matter. Among the potential buyers for WWE are Middle Eastern investors with notable investments in soccer and golf, as well as Endeavor Group Holdings, the owner of the Ultimate Fighting Championship, according to Bloomberg’s report. These sources have requested anonymity due to the confidential nature of the discussions.
Endeavor Group Holdings, the owner of the Ultimate Fighting Championship, may need financial assistance from a third party to acquire WWE, as the wrestling company’s market capitalization of $10.4 billion is only slightly higher than Vince McMahon’s desired sale price. However, Endeavor has a proven track record of successfully integrating and expanding sports-media companies with controversial founders, as demonstrated by their management of the UFC.
Recent reports indicate that Saudi Arabia has displayed a keen interest in acquiring Formula One from Liberty Media Corp, signalling their increasing investments in the entertainment and media industries. In the past, there have been rumors that the Saudis had already secured a deal to purchase WWE. However, WWE CEO Nick Khan has publicly denied these speculations, stating that there is no truth to them.
As WWE prepares to negotiate its forthcoming TV deals, it is considering the possibility of extending its present contracts with Comcast and Fox. Comcast’s Peacock streaming service has experienced great success with WWE, which has been one of its most popular attractions.