The Saudi Arabian Public Investment Fund could be set to branch out into WWE. According to Front Office Sports, Newcastle United's majority owners have been linked with a bid for Vince McMahon's controlling stake, with rumours circulating about a possible sale after the 77-year-old stepped down last summer after a sexual misconduct scandal.
McMahon, who is the company’s controlling shareholder and once linked with a takeover at St. James' Park, returned to the organisation last week with it exploring “strategic alternatives” and media rights negotiations. “WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms,” said McMahon in a statement.
“The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives. My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder.”
