CNBC host David Faber has refuted reports that the WWE has been purchased by the Saudi Arabia Public Investment Fund.
After the resignation of WWE Co-CEO Stephanie McMahon late Tuesday evening, rumors began to swirl that the company had been purchased by the same fund that bankrolled the upstart LIV Golf Tour in 2022.
In a since deleted tweet, DAZN reporter Steven Muehlhausen tweeted “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.”
During Wednesday’s show, Faber refuted those reports, blasting Muehlhausen and other journalists for prematurely jumping the gun on any potential sale rumors.
“There was a tweet overnight from somebody, saying that the Saudis were going to buy, that got deleted,” Faber said. “That wasn’t true, to begin with, but it has had the effect sending the stock up a bit more.”
Faber continued by saying there are prospective buyers, but they are unclear on whether Vince McMahon would actually sell the organization.
“The Saudi thing doesn’t appear to have a lot behind it right now,” said Faber. “Again, that tweet had been deleted, I believe, from earlier. From some gentleman associated with wrestling and marketing overall.”
MMA reporter Ariel Helwani also refuted there is no deal in place and WWE “is still exploring all options”.
Retraction: When first published, this story claimed Helwani — not Steven Muehlhausen — was the originator of the rumor that WWE had been sold to the Saudi Arabia Public Investment Fund. Helwani never made a claim that the WWE had been sold.
