Vince McMahon is seeking as much as $9B in a potential sale of wrestling promotion World Wrestling Entertainment (WWE).
According to sources, the company has already received multiple offers from various groups, including Endeavor Group Holdings, the owner of Ultimate Fighting Championship, and investors from the Middle East.
WWE CEO Nick Khan recently denied a report that the company already had a purchase agreement with Saudi investors.
- Endeavor, if seeking to purchase WWE, would need financial backing from a third party as the company is currently worth about $10.4B.
- WWE is in early talks for its next TV deals and could renew its current agreements with Fox and Comcast.
- McMahon, WWE’s controlling shareholder, recently returned to the company as executive chairman after leaving last year following sexual misconduct accusations.
- WWE shares rose nearly 5% on Friday following news of a potential sale. The stock closed at $87.98, up ~1% for the day.
