Saudi Arabia’s PIF ‘appears as a possible bidder for WWE if it comes up for sale’

The latest sporting endeavor for the Public Investment Fund of Saudi Arabia could be in the form of professional wrestling.

If WWE plans to put itself up for sale, the PIF could be a potential bidder, according to reports from Front Office Sports.

Of the $620 billion in assets the PIF controls, some of the most visible purchases it’s made in recent years have been sports real estate.

In 2021, the Saudis became majority owners of Premier League club Newcastle United. In 2022, they funded LIV Golf’s attempt to dethrone the PGA Tour as the world’s premier golf competition.

After years of partnering, Saudi Arabia could look to buy WWE outright if it’s up for sale

Now her attention could turn to wrestling. Saudi Arabia and WWE have strengthened their relationship over the past decade.

In 2018, WWE hosted the “Greatest Royal Rumble” at King Abdullah International Stadium in Jeddah – the first WWE event in Saudi Arabia.

WWE would later commit to hosting a series of events known as the “WWE Crown Jewel” which will take place as part of a ten-year deal.

These agreements have all been touted as part of “Saudi Vision 2030” – a framework to diversify the kingdom’s economy and strengthen certain sectors under Crown Prince Mohammad bin Salman.

Saudi Arabia has previously hosted several WWE promotions – including “Crown Jewel”.

This report comes after the Stamford, Connecticut-based company announced that former chief executive Vince McMahon would return to the board following an investigation into alleged sexual misconduct and infidelity.

Vince McMahon is married to Linda McMahon — a twice-failed Republican nominee for Connecticut’s United States Senate seats and Administrator of the Small Business Administration under former President Donald Trump.

Vince had resigned from the WWE board of directors in July – later reports revealed he had paid more than $12 million to quash all allegations.

Rumors that a sale may be imminent may have picked up steam after a letter from McMahon was released today.

“I believe that at this critical time, WWE has a unique opportunity to maximize value for its shareholders and all other stakeholders,” McMahon wrote.

“Particularly given the rapidly evolving media landscape, with more and more companies seeking to own the intellectual property offered on their streaming platforms, I firmly believe that it is best for all WWE shareholders and other stakeholders to engage engage in a comprehensive review of strategic alternatives.’

It was announced today that Vince McMahon will be returning to the company

A letter from McMahon says the Stamford, CT-based company may be looking for a new buyer

If the sale goes through, FOS expects other potential buyers to challenge the Saudis for the company – which brought in $1.095 billion in sales in 2021.

FOS named Amazon, Comcast, Fox Corporation, Liberty Media, Endeavor and CAA as possible bidders.

PIF’s involvement in this will raise further allegations of “sports washing” to cover up his history of human rights abuses and his abuse of women.

McMahon bought WWE – formerly known as the World Wrestling Federation or WWF – from his father in 1982.

Other potential bidders for the wrestling promoter could include Amazon, Comcast and Fox