Reports: WWE's Vince McMahon Sells Company, Stephanie Resigns

Rana Atef

Early Wednesday, a new twist in the administration of the biggest pro wrestling company in the world, WWE, as the CO-CEO Stephanie McMahon resigned from all her roles in the company. Shortly, Vince McMahon became in full charge of the company to finalize the process of selling the multi-billion dollar corporation.

Stephanie McMahon announces she has resigned as Co-CEO of WWE pic.twitter.com/iPBKWI0EoB
— B/R Wrestling (@BRWrestling) January 10, 2023

Reports said that McMahon who had the majority of the company's shares sold the company to KSA Public Investments Fund.

It was also reported that the company will be taken off the public stock markets to be a private one once again since 1999, according to DAZN reporter Steven Muehlhausen.

The selling process is not a shocking one as McMahon announced it previously that his return is to sell the WWE.

There was a long list of possible buyers including Fox, Disney, Warner Bros, Amazon, and Comcast, with a mention of the Saudi PIF.

WWE has reportedly "agreed in principle" to a deal to sell the company to the Saudia Arabian Public Investment Fund. WWE must provide notice to their shareholders and other parties before the deal is finalised, but the deal has been agreed.
Read more down below.👇 pic.twitter.com/fJ9H77IfD3
— Cultaholic Wrestling (@Cultaholic) January 11, 2023

It was rumored that Saudi investors were interested in buying the WWE a few years ago, before signing the 10-year-agreement between the Saudi and WWE parties.

Until now, there was no confirmation about the finalization of the sale or the buyer. However, the uncertainty sparked concerns between talents and wrestlers.

According to Bodyslam & DAZN, WWE has been sold to Saudi Arabia’s Public Investment Fund & they are taking the company back to being private. pic.twitter.com/zW6y300L8V
— WrestlePurists (@WrestlePurists) January 11, 2023

On social media, it was rumored that some releases, budget cuts, and walks out will come back, alongside the delay of some new signings.

Hundreds of social media users questioned the fate of some talents such as Sami Zayn, Kevin Owens, John Cena, and Edge in case of the Saudi authorities are the new owners of the corporation.

Zayn, Owens, and Cena expressed some political statements a few years ago, however, Edge was strongly criticized last year as he expressed wrong points of view about Saudi women.

June 17, 2022- Stephanie McMahon was named Interim CEO
July 22, 2022- Stephanie was named Chairwoman and Co-CEO
Jan 10, 2023- Stephanie resigns as WWE co-CEO and Vince McMahon named Executive Chairman.
Updated Timeline.
This whole story has been playing out fast. pic.twitter.com/4DIT6d4xrD
— Denise 'Hollywood' Salcedo (@_denisesalcedo) January 11, 2023

Moreover, different people may be re-released once again after they made company returns such as Mia Yim, OC, Karrion Cross, Scarlet, Johnny Gargano, Candice LaRea, and others.

The position of Triple H also deeply questioned by the fans after the resignation of Stephanie, regardless of Stephanie's confirmation that her husband is still the head of the creative team.