Tuesday October 3, 2023

WWE Hires Outside Advisors for Potential Sale, Rights Talks

  • Sports entertainment giant hires three firms to help explore ‘strategic alternatives.’
  • Saudi Arabia’s Public Investment Fund Emerging as Potential Bidder.
Joe Camporeale-USA TODAY Sports
Front Office Sports Today

NBC Could Get In On College Football Playoffs

NBC is exploring broadcasting a slice of the expanded CFP in 2026.
Listen Now
October 3, 2023 | Podcast
Copy Link
Link Copied
Link Copied

The WWE is taking the next steps toward a multi-billion dollar sale. 

The pro wrestling giant announced Thursday night it had retained The Raine Group LLC as financial advisor, Kirkland & Ellis LLP as legal advisor, and August LLC as strategic communications advisor.

The outside firms will help support WWE management and its reshuffled board of directors as they review “strategic alternatives” to maximize shareholder value, according to founder and executive chairman Vince McMahon.

Besides considering a sale, WWE is also entering high-stakes TV negotiations for its next cycle of media rights. 

“WWE’s upcoming media rights cycle will take place amid a rapidly evolving media and entertainment landscape, and we believe exploring our strategic alternatives at this critical juncture will enable WWE to fully capitalize on the significant value of our intellectual property,” McMahon said in a statement. 

“I am highly confident that our outstanding directors, outside advisors and executive team will provide valuable expertise and counsel to help guide the company through this important process while our management team and employee base continue to deliver results and content our fans love.”

Saudi Public Investment Fund Could Bid On WWE

Could Saudis add dominant wrestling outfit to its portfolio.
January 6, 2023

The 77-year-old McMahon recently surprised Wall Street by returning to his family business after stepping away last summer due to a sex scandal. On Tuesday, Stephanie McMcMahon — who took over as chairwoman and co-CEO after her father’s departure in July — announced she would step down from those roles. 

Nick Khan has taken over as WWE’s sole CEO, with McMahon as executive chairman. Khan, a former super-agent at CAA, will lead the promotion’s media negotiations.

“I’m grateful to Vince McMahon and our Board of Directors for their ongoing support,” Khan said in a statement on Tuesday. “I look forward to continuing to work closely with them and my WWE colleagues to ensure our company may thrive as the premiere powerhouse in sports entertainment for years to come.”


Can Endeavor Handle Dana White and Vince McMahon?

Vince McMahon has renewed speculation he may sell WWE. Maybe even to…
January 7, 2023

Front Office Sports previously reported Saudi Arabia’s Public Investment Fund has emerged as a potential bidder if the sports entertainment giant puts itself on the auction block. With $620 billion in assets, the sovereign fund already bankrolls the breakaway LIV Golf tour.

Other suitors could include: 

  • Comcast’s NBCUniversal Media and Fox Corp. already boast media rights deals for “Monday Night Raw” and “Friday Night Smackdown” respectively.
  • Amazon: The company entered the U.S. sports business in a big way with a $1 billion-a-year deal to exclusively stream the NFL’s “Thursday Night Football” through 2033. 
  • The Walt Disney Co: The Mouse struck a deal to bring Disney+ Hotstar streaming service to Indonesia.
  • Endeavor: Had purchased a controlling stake in the UFC for $4 billion in 2016.
  • Liberty Media: Acquired Formula One for $4.4 billion in 2016.
  • Global talent agency CAA. 

WWE currently has a market capitalization of $6.65 billion. The company’s stock closed at $89.34 on Thursday.

Copy Link
Link Copied
Link Copied

What to Read


Panini Picks Up Legal Win, Will Still Make WWE Trading Cards

New York judge denies WWE's bid for restraining order

Fox Opts For College Sports Over WWE Post-UFC Merger

Fox has plenty of college sports to lean on in WWE's absence.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.

TKO Makes First Big Move After WWE-UFC Merger

Investors drop TKO shares by 15% following SmackDown rights deal
podcast thumbnail mobile
Front Office Sports Today

NBC Could Get In On College Football Playoffs


Featured Today

Football analyst and PFF investor Chris Collinsworth talks to man in front of computers

Cris Collinsworth 'Lost a Lot of Sleep' Over Pro Football Focus Leadership Issues

New book details why it’s no longer a “happy place to work.”
NBC is interested in media rights to the expanded College Football Playoff.
October 2, 2023

NBC Is Interested in Expanded College Football Playoff Media Rights

NBC is one of the networks pitching the CFP, a source confirmed.
October 2, 2023

MLB Attendance Surges 70 Million, Tops League Projections

League posts best year-over-year increase at the gate since 1993
Levi's Stadium
October 2, 2023

49ers Study Shows Benefits of Public-Private Stadium Deals

Levi’s Stadium has generated more than $2 billion per new study.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations

EA Rewarded For Decision To Split With FIFA

Company sees strong uptick in pre-release sales activity
A view of the Charlotte Hornets jersey with new jersey patch sponsor Feastables.
October 2, 2023

MrBeast Lands The First Creator-Led Brand Jersey Patch

Feastables will be the Charlotte Hornets’ official jersey patch sponsor.
Liverpool players celebrate after a goal.
September 28, 2023

FSG Sells $200M Liverpool Stake To Private Equity Firm

New York-based private equity firm makes its first deal
September 28, 2023

BioSteel Bankruptcy Shows Perils of Costly Sports Partnerships

BioSteel spent heavily on partnerships deals before bankruptcy.
September 25, 2023

Hollywood Writers' Deal Would Boost Sports Networks and Agencies

Several major sports media entities, talent agencies exposed to strike's effects
Deion Sanders
September 19, 2023

Deion Sanders' Sunglass Tiff Nets Eyewear Company Nearly $4.5 Million

Sanders has Midas touch for sunglasses sponsor Blenders.
September 15, 2023

Goldman Sachs Opens Door For Clients To Invest In Sports Teams

Firm initiative opens new opportunities for wealthiest clients
An Everton player displays shirt sponsor Stake.com, a gambling company, during a match.
September 15, 2023

Everton Acquisition By 777 Partners Extends U.S. Presence in Premier League

American entities now control half of Premier League clubs