Saudi Arabia's Public Investment Fund, who own 80 per cent of Newcastle United, look set to add another high-profile addition to their investment portfolio with reports suggesting World Wresting Entertainment (WWE) founder Vince McMahon is ready to sell the company.
According to DAZN, McMahon has agreed to cash in on the global brand, taking it off the stock market and making it a private company again. The news dropped just hours after Stephanie McMahon, Vince's daughter, resigned from the company's board after her father had returned as Chairman of the Board. Many with knowledge of the business claim an announcement is 'imminent'.
The sports entertainment brand is valued at around $6.3 billion (£5.2m) and has a rich history with Saudi Arabia after holding its Crown Jewel, Entertainment Live, and Greatest Royal Rumble events in the kingdom in recent years. WWE also has a 10-year agreement to hold two live events in the country every year.
