In the year 1999, WWE became a private firm under the helm of Vince McMahon. However, in early 2023, rumors suggested that WWE would transition to a publicly traded company for the first time since 1999. Although the news did not affect the core wrestling fans much, it was important for financial stakeholders.

The Stamford-based promotion has made waves in the recent past with record-breaking attendance figures and beating out its competition in key metrics. However, Vince McMahon aimed for bigger and better things. He took the opportunity to sell stakes when the business experienced a boom. But, did he use Saudi Arabia’s PIF as a hoax for his end goals?

Did WWE pull a bluff using the name of Saudi Arabia’s PIF?

The year 2022 did not begin in the right way for WWE and the McMahon family. News of Vince McMahon’s misdeeds came to light which set off a chain reaction. Later, Stephanie McMahon announced her resignation from her post as Chairwoman. But the biggest rumors came about the prospect of WWE’s sale to Saudi Arabia’s Public Investment Fund.

However, many believe that the news didn’t hold weight. A popular American YouTuber for anime content named @Geekdom101 tweeted on X on April 4th about the bluff played by WWE back in early January. The caption for the tweet read, “I guess I can say this now. I was told privately a few months ago that the whole “WWE sold to the Saudis” was apparently a story put out to drive up the interest in other buyers. If true, To quote Donatello from TMNT 2 “Genius… Pure Genius“”

Saudi Arabia Public Investment Fund (PIF) is the sovereign welfare fund of Saudi Arabia. It has made major investments in Formula 1, initiated a LIV Professional Golf tour, and also holds a stake in the Newcastle United soccer club in the Premier League.

As per the words of Geekdom101, WWE used the rumors to increase their prices among interested buyers. Comcast, Disney, and UFC parent company Endeavor rounded up the names of interested parties in buying stakes at WWE.

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It is not clear if WWE played a gamble using PIF’s name for the deal, but they did get a buyer later in the year. In the end, WWE got into a deal with Endeavor Group which became a historic moment in the world of combat sports.

WWE joins hands with Endeavor to form TKO Group

In April 2023, Endeavor bought a 51% stake in WWE after valuing the firm at $9.3 Billion and UFC at $12.1 billion. Interestingly, as of October 2023, WWE is valued at a market cap of $8.37 Billion which makes it the world’s 164th most valuable firm (market-cap-wise). Looking at the stats, it can be said that perhaps Vince McMahon’s gamble worked, if  

The two behemoths merged to form a new parent company called TKO Group Holdings. The merger was made official in October 2023.

Do you think WWE played a bluff with PIF’s name amidst the buy-out? Let us know in the comments section below.

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