Vince McMahon’s unexpected return to WWE has sparked serious changes within the organization. Last week, McMahon rejoined the WWE Board of Directors with George Barrios and Michelle Wilson to assist in negotiating new TV deals for Raw and SmackDown and to consider strategic alternatives for the company.
Following this, on Tuesday, Stephanie McMahon stepped down from her roles as Chairwoman and co-CEO of WWE. Vince McMahon was appointed Executive Chairman of the Board, and Nick Khan was named CEO.
Speculation about a potential WWE sale emerged on Tuesday night, with reports suggesting an agreement in principle to sell the company to the Saudi Arabia Public Investment Fund.
However, sources clarified that there is currently no finalized deal with the Saudi Arabia Public Investment Fund or any other entity. The company is still evaluating all possibilities, and the initial tweet by Steven Muehlhausen of DAZN.com claiming a completed deal has been deleted.
Sean Ross Sapp of Fightful provided updates via Fightful Select and Twitter, noting that the writing team and production staff have not been informed of any sale. There is a serious concern among staff and talent regarding the company’s future, especially with Vince McMahon back in control.
Sapp mentioned that several wrestlers have expressed intentions to leave WWE if it becomes Saudi Arabia-led. Dave Meltzer, speaking on Wrestling Observer Radio, also confirmed widespread nervousness and uncertainty among talent about the company’s direction.