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WWE's sale might be finalized sooner over the weekend than anyone could have guessed. Further details have now emerged about the sale in a new report.
Ever since Vince McMahon returned to the company earlier this year, there have been talks about a sale of the company. There have been multiple conversations about a sale.
Previously, there was a report about WWE being sold to a Saudi Arabia Public Investment Fund. The rumor was proven false after the wrestling world lost their collective mind at the idea of the company's supposed direction.
Now, another report from CNBC has seen rumors of a deal being finalized soon after WrestleMania weekend. The report stated that the company was in advanced talks with Endeavor, the parent company of UFC. As a part of the deal, the company and WWE are expected to form a new publicly traded company. The report also stated that Endeavor would look to own 51% of the company while shareholders retained 49%.
Fightful Select has provided further updates about the sale now. WWE talent and staff have not been briefed as of yet, but they confirmed that the sales process was moving really well. The backstage buzz was that the company was securing a deal with a "non-Saudi" buyer.
The deal was in motion ahead of the company hosting suitors in Los Angeles for WrestleMania. Endeavor has a history of this when they acquired UFC in 2016. At that time, they retained Dana White in the head role. The report stated that Vince McMahon would have had protections in place for him to retain his position in some capacity or to receive a healthy severance.
As of Sunday, the report stated that plans were in place for Vince McMahon to remain as Executive Chairman and Nick Khan as President on the "wrestling side of things." Meanwhile, Ari Emanuel and Mark Shapiro, the CEO and the President of Endeavor, respectively, were supposed to get involved as well.
While there was no update on Triple H's status with WWE, the report stated that Endeavor "sources" believed that the company was showing trust in him, and there was also respect for what Stephanie McMahon had done.
WWE's sale details and how it could affect superstars
There was also an update about WWE Superstars being allowed to pursue their own projects, with UFC Fighters allowed to work with third parties, something that the wrestling company has frowned upon recently. The sale has been a major talking point backstage at WrestleMania, but stars are not sure what's going on at the moment.
This might result in quite a few opportunities in the mainstream for wrestling talent while still being retained in the company.
Despite it not being sold to the Saudi Arabia Public Investment Group, the company's relationship with them is expected to be secure.
