Everyone is waiting for WWE to deny its been sold to Saudi Arabia

You can tell by the ensuing chaos and litigation that Vince is back. — You can inform by the following chaos and litigation that Vince is again.

A Tuesday evening Twitter storm gave means to infinite hypothesis that WWE could be sold to Saudi Arabia’s Public Investment Fund. It whipped skilled wrestling followers into a frenzy, almost blinding them to the denial that a sale had been accomplished by a number of distinguished figures in wrestling media. The strangest a part of the ordeal is a scarcity of WWE denial, though the corporate is effectively conscious of the rumors on the heels of Vince McMahon’s return to the corporate six months after his resignation.

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DAZN’s Steven Muehlhausen first reported the information of the “sale” however has already deleted the tweet “breaking” the information — lower than 24 hours after posting.

Image for article titled What has — and hasn't — been confirmed about the reported WWE sale to the Saudis — Screenshot: @SMuehlhausenJr/Twitter

The unique tweet was echoed by a big swath of wrestling media, who stated they might examine with sources to see if the smoke would lead to an inferno. For now, it seems this smoke barely has any embers. As poisonous as these smoldering sticks are, a scarcity of an official WWE remark doesn’t outright get rid of the potential of the biggest skilled wrestling firm on the earth falling into the arms of the Kingdom of Saudi Arabia.

A WWE spokesperson has not to returned Deadspin’s request for remark.

The timing of WWE’s official sale is suspect, with McMahon formally returning to the corporate as govt chairman this week. Right earlier than Muehlhausen’s unique tweet, Stephanie McMahon, Vince’s daughter, resigned from her publish as the corporate’s co-CEO, a task she initially took after her father’s resignation. WWE additionally introduced lower than per week in the past that it had partnered with JP Morgan Chase & Co. to help with a possible sale. Unless the Saudis wrote a clean examine for the elder McMahon to money when he pleases, which isn’t inconceivable however extremely inconceivable, then any sale would want to be correctly vetted. And lower than per week to do this isn’t seemingly as a result of the corporate’s shareholders would want to approve such a transfer.

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Speaking of WWE’s shareholders, a class-action lawsuit was filed in opposition to Vince McMahon in Delaware this week. Scott Fellows is suing McMahon, accusing him of flaunting his greater than 80 % voting management of the corporate to impose his will on WWE illegally, per Bloomberg News. The lawsuit additionally mentions modifications to the corporate’s Board of Directors and interfering with media rights offers.

While a WWE sale to Saudi Arabia isn’t in any means confirmed in the meanwhile, it’s straightforward to join the dots, with the corporate operating a number of premium stay occasions from the Kingdom during the last a number of years. It’s additionally attainable this sale occurs finally, due to the large quantities of cash the general public funding fund has, evidenced by the creation of LIV Golf and the way the brand new golf promotion has courted lots of the PGA’s prime stars on profitable offers. It’s additionally clear that Muehlhausen jumped the gun on an enormous breaking information story.