WWE in talks with Newcastle’s Saudi Arabian owners over takeover with Vince McMahon ‘set to return as head of creative’
VINCE McMAHON has held talks over selling the WWE to Newcastle’s Saudi Arabian owners and is expected to return as head of creative, sensational reports say.
The American sports and entertainment mogul had last year stepped down as WWE chairman and CEO amid sexual assault allegations.
But McMahon confirmed in a statement that he was returning to the board of directors to help facilitate a sale of the WWE.
According to DAZN, the WWE had been sold to Saudi Arabia’s Public Investment Fund, which also owns Premier League side Newcastle.
It would see the company go back to being private, while McMahon could be expected to return as head of creative.
But it is understood talks over a deal are at an early stage, and no takeover has been completed yet.
The Saudi Arabian Public Investment Fund (PIF) in October 2021 took over Newcastle from unpopular owner Mike Ashley in a £300MILLION deal.
Stars of boxing, F1, golf and the WWE have all be prised over to the Middle East in recent years.
The WWE have even held an annual pay-per-view event, Crown Jewel, in Saudi Arabia since 2018.
But, like has been the case with other sports, the decision was slammed due to Saudi Arabia’s human rights record.
Nonetheless, the WWE have maintained a strong relationship with the Saudis over the years, which has led in to takeover talks.
McMahon is the controlling shareholder of WWE, but stepped back as boss last June.
It came after the 77-year-old was found to have paid $12m (£9.8m) to four women over 16 years to quell claims of alleged sexual misconduct and infidelity.
He left the company in the hands of his daughter Stephanie, 46, and his son-in-law Paul Levesque, a WWE legend known as Triple H.
But Stephanie today resigned as co-CEO and Chairwoman of the board after her father returned as executive.
Husband Triple H is expected to continue his role as Chief Content Officer, with Nick Khan serving as WWE CEO.
SunSport has reached out to WWE for comment.