The world of sports entertainment was abuzz with rumors of WWE’s potential sale for months. Speculations arose that Vince McMahon was actively exploring options to sell the company. Among the various rumored buyers, a Saudi bid seemed like the most likely option.
However, recent revelations from an insider have shed new light on the situation. The Wrestlemania 39 event recently took place, featuring memorable performances from popular personalities like Logan Paul and the sudden debut of KSI.
Behind the scenes, a major development was underway – WWE was reportedly in the process of a complete merger with Endeavor Group, the parent company of UFC. The proposed takeover eventually materialized.
Endeavor spent around $9 billion to acquire one of the biggest sports entertainment products. The interesting part is that the widely discussed alleged Saudi bid for WWE now appears to have been a clever ploy to generate interest from other potential buyers.
This revelation comes from an insider, Geekdom101. He is known for accurate leaks in the past, such as the ending of Godzilla vs Kong and The Matrix 4.
Geekdom101 tweeted:
In recent years, Saudi Arabia has been making its presence felt in the world of sports, with major events and acquisitions. WWE too had signed a lucrative 10-year agreement in 2018 to deliver several high-profile PPV shows in Saudi Arabia annually. Therefore, it was only natural for a potential Saudi bid to be expected when talks of WWE’s sale surfaced.
It now appears that the alleged Saudi bid was a smokescreen to create a sense of urgency and competition among other potential buyers. This tactic seems to have worked, as Endeavor Group eventually secured the acquisition of WWE.