The ultimate heel Vince McMahon recently returned to the WWE and is reportedly looking to sell the wrestling empire to the tune of $9 billion.
If that seems like too big a number, you’re not wrong. The WWE is currently valued at (only) $6.65 billion but the disgraced former CEO seems hopeful that one of the potential buyers he’s been courting will take the bait and buy the company for more than it’s worth. According to a report from Bloomberg, McMahon, who is already receiving offers and hoping to sell the company for “as much as $9 billion,” is possibly emboldened by the big names reportedly interested in the wrestling organization.
The initial report directly named Endeavor Group Holdings Inc. and The Saudi Arabia Public Investment Fund as two of the companies looking to purchase the WWE. Endeavor currently owns the UFC and represents the NHL and NFL but is only worth 11.4 billion, so it seems unlikely the company would be able to shoulder the WWE’s hefty price tag.
Saudi Arabia already has a 10-year deal with the WWE, ensuring the wrestling company holds two major events in the region per year and a few credible news outlets reported that Investment Fund had already purchased the WWE earlier this week. The Investment Fund is valued at around $614 billion so shelling out $9 billion would theoretically be a drop in the bucket for them, but why would the company want to purchase an overvalued WWE?
McMahon headed the organization as CEO and chairman for 40 years and is undeniably responsible for turning the WWE into the entertainment behemoth it is today. He was ousted from his position in July of last year amid reports stating he had paid multiple women at least $12 million in hush money over a period of 16 years. More women, all former employees, came out with similar allegations of sexual misconduct and McMahon retired in light of the scandal.
His daughter, Stephanie McMahon, served as co-CEO (along with Nick Khan, who is now the sole CEO) but stepped down in January when her father returned as executive chairman. The elder McMahon was clear upon his return that he was interested in selling the WWE to the highest bidder and it appears negotiations must be going swimmingly if his over-evaluation is being seriously considered by buyers. McMahon and other board members stand to make a pretty penny from the sale and aside from the two companies mentioned in the Bloomberg article, some big names are also reportedly interested in buying the WWE.
Several news reports have named Disney, Comcast, Amazon, and Fox as potential buyers, but is that the truth? A CNBC article has offered a list of speculative buyers who might be interested in an acquisition but there are no substantive reports linking any of these companies to actual negotiations with McMahon and Co. Given all the speculation, it’ll be interesting to see who ends up being the new owner of WWE and at what price.
Published: Feb 18, 2023 02:15 pm