WWE rumored to have been sold - Reports

Following the announcement of Stephanie McMahon's resignation as co-CEO of WWE, rumors have surfaced online stating that the sports entertainment company has been sold.

Several days ago, Vince McMahon returned to the company after retiring last year due to sexual misconduct and hush money allegations against him. After his departure, his daughter was named the chairwoman and Co-CEO alongside Nick Khan.

In a recent press release sent out by WWE, it was revealed that Khan is now the sole CEO of the company, while Vince has been unanimously elected as Executive Chairman of the Board.

According to Cassidy Haynes of Bodyslam.net, WWE has been sold to the Kingdom of Saudi Arabia, and the company will now go private. This hasn't been confirmed yet, and it should be treated as a rumor until the company itself makes an announcement.

"For what it’s worth, I’m told the Saudi deal is done and they’re taking the company private," wrote Haynes.

You can check out the tweet below:

Steven Muehlhausen of DAZN also shared on Twitter that he has been informed about the deal, stating that Saudi Arabia’s Public Investment Fund has purchased the wrestling company.

"Sources: WWE has been sold to Saudi Arabia’s Public Investment Fund. The company will go back to being private. Unknown if Vince McMahon will return to head of creative but it is expected by some people," wrote Muehlhausen.

As of this writing, Triple H is still listed as the Chief Content Officer, which means he's still in charge of creative.

Stay tuned to Sportskeeda Wrestling for all the updates and reports regarding this rapidly developing situation.