WWE has reportedly been sold to Saudi Arabia’s Public Investment Fund.
The company will become private, and it’s unknown whether Vince McMahon will return as head of creative.
This news follows the resignation of WWE CEO Stephanie McMahon.
Nick Khan will be the sole CEO of WWE.
The sale is not finalized and will need to be notified to shareholders.
Critics have raised concerns about the punishment of LGBT community members in Saudi Arabia.
WWE has held events such as Crown Jewel and Greatest Royal Rumble in Saudi Arabia in recent years.
Saudi Arabia’s Public Investment Fund controls $620 billion in assets.
PIF recently became the majority owner of the Newcastle United soccer club.
PIF spent at least $2 billion to fund LIV Golf’s global challenge to the PGA Tour
