SaudiMania? Weighing In On Potential Of Saudi Arabia Bidding For WWE

When WWE entered its partnership with Saudi Arabia in 2018, criticism was quick to follow, ranging from cries of accepting ‘blood money’ in the aftermath of the murder of journalist Jamal Khashoggi to supporting ‘government propaganda’ and ‘whitewashing’ of the kingdom’s suppressive regime. While those criticisms remain, the partnership has grown into something more substantial with potentially historically significant implications: the sale of WWE/Endeavor as an entity to Saudi Arabia’s General Entertainment Authority.

When the current 10-year deal was announced in 2018, it was disclosed that WWE expected to receive around $50 million dollars per event. At two events per year, the deal would therefore bring the company around $1 billion dollars over a ten year span. From a business standpoint, it is hard to argue that the deal made a lot of sense for WWE at a time when their latest TV contracts with NBC Universal and Fox raked in around $470 million dollars a year in 2018.

Trouble began to brew in paradise shortly after the first Crown Jewel event in 2019 when a WWE charter plane was grounded at King Fahd International Airport. While mechanical issues were named as the official reason, those didn’t explain the presence of Saudi military police, and questions began to arise soon regarding the real reasons for the grounding. WWE even had to pivot their Smackdown show for the following night to feature a number of NXT and women’s talent (the latter had only just been represented in their first match at Crown Jewel between Natalya and Lacey Evans).

Since then, the partnership has seemingly gone without a hitch, even after the ouster of Vince McMahon from WWE. In fact, the partnership has, if anything, gotten a lot closer over the last few years. So much so, that the kingdom has landed regular WWE PPVs for their schedule: the Royal Rumble 2026 and WrestleMania 43 in 2027, the last year of the current deal. Those deals come with a great surplus of money: while the exact amount for both events is unknown (but will have to be disclosed by WWE later as they are a publicly traded company), it is reported to be in the hundreds of millions of dollars.

With those latest developments, speculation has risen again: are the Saudis going to make a bid for WWE? Chances are: it’s a real possibility.

When Nick Khan was brought in to the WWE fold in August 2020, some insiders noted that he may have been brought on board to facilitate a sale of the company in the not-too-distant future. Those voices were proven correct – whether or not McMahon’s ouster and brief comeback had any significant impact on the timeline is up for debate. However, instead of selling to the Saudis, WWE merged with UFC under the umbrella of Endeavor Group Holdings in April 2023.

Those same voices are now rising again, articulating the suspicion that WWE’s latest arrangements with Saudi Arabia point towards a potential sale from Endeavor to the kingdom’s authorities.

That deal, if it does happen, may alter the wrestling landscape more than even the collapse of WCW and ECW 25 years ago did.

While the criticism of WWE’s involvement with Saudi Arabia has never gone away, it has somewhat quieted down over the last years. A sale to the kingdom (and potential privatization of the company) will very likely reignite and intensify those criticism. In addition, WWE’s new owners would find themselves in a position where they eventually would have to find replacements for current top executives, including Nick Khan and Paul Levesque.

The creative side of things here is the more interesting. Triple H was more-or-less handpicked by Vince McMahon. History has shown that wrestling promotions tend to struggle whenever ownerships and creative directions change. The question today is who will take over the role after Levesque steps aside, whenever that may be – and it may be sooner rather than later given Levesque’s health issues in recent years. Either way, no clear successor has emerged so far. A mix of creative void, backlash for the new ownership, and an eventual (unavoidable) downturn in business could lead to a potentially dangerous mix for WWE as we know it. While the Saudi’s money is nearly limitless, money alone does not make for quality content.

WWE has successfully transitioned to Endeavor, in part because so little changed on the corporate side. Vince McMahon’s departure didn’t negatively impact the company because he was replaced by top level executives and top level (current) wrestling minds. A sale of WWE to the Saudis may signify the beginning of the end for the biggest and most successful company in pro wrestling history.