Wrestling giant WWE could soon go the Newcastle United way, details inside

Professional wrestling’s most famous brand World Wrestling Entertainment (WWE) appears likely to have a new owner very soon. The buzz around WWE’s potential sale started with its former CEO Vince McMahon returning after retiring from the brand a year ago. And if the latest reports are to be believed, WWE could soon have a common link with English football club Newcastle United.

That is because the top name among potential bidders for WWE is none other than Newcastle United’s majority owner Public Investment Fund (PIF). PIF is the sovereign wealth fund of oil-rich gulf nation Saudi Arabia.

Vince McMahon’s surprise return to WWE has set the rumour mills rolling about the billionaire wrestler-businessman coming back to offload the company. The company is also gearing up for hatching out a new media rights deal.

The Saudi Arabian fund is seen as the frontrunner to land WWE if the company is put up for sale due to an already existing relationship between them. WWE and PIF have a deal in place to conduct two major events in Saudi Arabia every year. 

The cash-rich investment fund controls assets worth $620 billion currently. Apart from PIF, other names popping up as potential suitors for WWE include e-Commerce giant Amazon, talent agency CAA, Liberty Media, Endeavor and telecom firm Comcast.

The company has hired JPMorgan as advisor for a potential sale, CNBC reported citing sources. WWE seal, if it happens, will likely take place in the next 3-6 months, it added.

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