Stephanie McMahon Officially Resigns From WWE Amidst Rumors Of Company Being Sold

Barely a week into the new year, WWE has been at the top of the headlines for a multitude of reasons not related to the product the promotion is putting out.

The biggest news to come out of the company is Stephanie McMahon's resignation from her post.

In a Twitter post that seemingly came out of nowhere, McMahon noted that with WWE being in "such a strong position," it was time for her to "return to my leave and take it one step further with my official resignation."

WWE fans have kept a close watch on McMahon's status with the pro wrestling company since she had taken a leave of absence on May 19, 2022 to "focus on her family."

On June 17, McMahon was elevated to interim chairwoman and CEO of WWE following an investigation that was launched on then-CEO Vince McMahon's hush money affairs.

Her interim tag was later removed and permanently became an official chairwoman following her father's retirement from WWE.

She was also named as the co-CEO of WWE alongside company president Nick Khan, while her husband Triple H was elevated to executive vice president of talent relations and head of creative–responsible for the quality of the product being put out on TV.

At the same time as her resignation, the senior McMahon was unanimously elected back to his position of executive chairman of the board.

Amidst the turmoil, Fightful's Sean Ross Sapp reported that Triple H will remain in his post as head of creative despite his wife's resignation.

Nine minutes later, Jon Alba of FiteTV revealed that "several wrestlers in the last 10 minutes across multiple companies reach out, expressing dismay at the Stephanie McMahon resignation news" with the vibe being described as "bad news for the workers."

Renowned industry journalist Dave Meltzer then confirmed that her father's return to power "evidently took place after her resignation."

To top things off, Reddit user and pro wrestling insider Kermit125 disclosed on the Squared Circle subreddit that the sale of WWE, which has also been rumored for quite some time, has happened.

Seemingly coincidental with Kermit125's report, Steven Muehlhausen of DAZN Wrestling tweeted that WWE has indeed been sold to Saudi Arabia's Public Investment Fund and that it will go back to being a privately-owned company.

He also noted that while there is no solid confirmation as of yet with regards to whether McMahon will return to his old post as the head of creative, "it is expected by some people."

WWE is no stranger to turbulent times, but the current happenings are a surprising development that few saw coming.

Further updates will be monitored by the International Business Times.