How Rupert Murdoch Changed Sports Media Forever
When Vince McMahon decided to reinstate himself as executive chairman of WWE in January, after resigning due to sexual misconduct allegations over the summer, he had one thing in mind: Maximize WWE’s value as the entertainment brand explores an acquisition.
On Friday, Bloomberg reported that the 77-year-old is seeking at least $9 billion for the empire, and he may have suitors lined up to take him up on his request.
Front Office Sports previously reported Saudi Arabia’s Public Investment Fund leads the list of possible bidders for the WWE. The deep-pocketed fund has upended the golf industry with its financial backing of rebel LIV Golf’s challenge to the PGA Tour.
But the Saudis will have plenty of competition if they want the WWE. According to Bloomberg, other bidders could include Endeavor Group, which bought a controlling interest in the UFC for $4 billion in 2016, Amazon, and Disney.
Also potentially in play are Comcast’s NBCUniversal Media and Fox Corp., which already boast media deals for “Monday Night Raw” and “Friday Night Smackdown,” respectively.
