Is WWE Sold? Rumors Of Sale To Saudi Arabia's Public Investment Fund Disputed

Social media went into a frenzy Tuesday night amid rumors that WWE had been sold to Saudi Arabia's Public Investment Fund. Several hours later, there have been plenty of conflicting reports regarding the future of the world's No. 1 wrestling promotion.

Is WWE sold? No deal has been struck for a sale to Saudi Arabia's Public Investment Fund, and the company remains publicly traded, at least for now.

Contrary to reports stating otherwise last night, there is no deal in place at this precise moment for WWE to be sold to Saudi Arabia's Public Investment Fund or any entity, sources say.

The organization is still exploring all options, I'm told. Developing.
— Ariel Helwani (@arielhelwani) January 11, 2023

Mixed Martial Arts insider Ariel Helwani said Wednesday morning that there was no deal in place for WWE yet. TMZ was also told that no sale had been agreed upon. Other wrestling insiders reported that people within WWE said that rumors of the company being sold were false.

It's possible that WWE could be sold some time in the near future. Just a few months after stepping away from the company, Vince McMahon returned as WWE's executive chairman and said he would help with upcoming media rights negotiations and a potential sale of the company. McMahon retired in July amid allegations of sexual misconduct.

Comcast, Disney and Amazon are viewed as candidates to make a bid for the wrestling promotion. It wouldn't be surprising to see Endeavor, which bought the UFC in 2021, purchase WWE. Saudi Arabia's Public Investment Fund remains a potential buyer of WWE.

Update, here is what I've put together so far:

The deal isn't completely finalized because WWE must provide notice to shareholders & other parties. There are legalities to go through, as the company is publicly traded. But, again, I'm told a deal has been agreed to in principle.
— Cassidy Haynes of Bodyslam.net (@Casshooole) January 11, 2023

The only thing WWE officially denied to Sean Ross Sapp in his new Fightful Select story Re: Saudi sale rumors etc. is that Paul Levesque's being moved to a different, lesser role. "WWE sources" denied that a sale to the KSA "has taken place as of yet."

STILL NO OFFICIAL DENIAL!
— David Bixenspan (@davidbix) January 11, 2023

Cassidy Haynes of Bodyslam.net was among the first to report that WWE had sold to Saudi Arabia's Public Investment Fund. According to Haynes, the deal has been agreed to in principle but not yet finalized because WWE shareholders and others would have to be notified first. Wrestling Observer's Dave Meltzer said that McMahon started talks with the Public Investment Fund after he left WWE in the summer.

Stephanie McMahon stepped down as WWE co-chief executive officer Tuesday just hours before rumors of a sale. Nick Khan is now the company's lone CEO.

WWE stock fell slightly Wednesday amid the rumors of a sale to the Public Investment Fund.