SENSATIONAL: WWE sold to Saudi Arabian Investment Fund, what will happen to Vince McMahon?

In a sensational development, Newcastle's Saudi Arabian owners have bought the WWE from Vince McMahon, according to reports. It is learnt that McMahon is likely to return as head of creative of WWE.

It may be recalled that McMahon had resigned as WWE chairman and CEO in 2022 amid sexual assault allegations.

But, it was later confirmed by McMahon that he will return to the board of directors to help in the sale of WWE.

According to DAZN, Saudi Arabia’s Public Investment Fund has bought the WWE. It is expected that WWE would now go back to being private and McMahon would serve as head of creative.

In October 2021, Saudi Arabian Public Investment Fund (PIF) acquired Newcastle after spending GBP 300 million.

The WWE held an annual pay-per-view event, branded as Crown Jewel, in Saudi Arabia since 2018.

Notably, McMahon holds a controlling stake in WWE, but the 77-year-old media and entertainment moghul quit in June 2022.