src='//' type='text/javascript'/> Vince McMahon reportedly wants at least $9 billion for the potential sale of the WWE

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Vince McMahon reportedly wants at least $9 billion for the potential sale of the WWE


Vince McMahon reportedly wants at least $9 billion for the potential sale of the WWE

Former CEO Vince McMahon wants at least $9 billion from a potential sale to World Wrestling Entertainment, Bloomberg reported on Friday.

   McMahon, who spent decades building WWE into an entertainment giant, left the company last year amid investigations into allegations of sexual misconduct and millions of dollars tied to no-show deals.

    While McMahon was still the controlling shareholder after his departure, his daughter Stephanie and Nick Khan would serve as co-CEOs after his retirement. But in January, McMahon rejoined the WWE board of directors, weeks after The Wall Street Journal reported that it was confident the allegations against him were "over" and he could return to the company.    An internal investigation by the WWE Board of Directors into McMahon was completed in November, but its findings were not released. Upon his return, WWE said it would "undertake a review of its strategic alternatives to maximize value for all WWE shareholders," which many interpreted to mean the company was considering a sale.

    Days after McMahon's return, WWE also announced that Stephanie McMahon would be stepping down as co-CEO and Khan would be the sole CEO.
   Bloomberg and Front Office Sports have reported that several offers have been made to purchase WWE. Companies such as Netflix, Comcast, Disney, the Endeavor Group, which already owns a majority stake in the UFC, or international corporations such as the Saudi  Public Investment Fund have been linked to WWE as potential bidders.
    Saudi Arabia's fund has already made several sports and entertainment investments, the most famous of which is the controversial LIV Golf, an alternative league to the PGA Tour. LIV Golf and other sporting events like the 2022 World Cup in Qatar have sparked accusations that Middle Eastern countries are using money and sport to "whitewash sport" and distract from issues like civil rights.

   Last month, Khan said the sale to the Saudi fund was essentially a "complete scam".  According to Bloomberg, McMahon's $9 billion asking price is in high demand considering the company posted sales of $1.29 billion last year and the price tag is around $9 billion is  23 times the company's operating profit.
   A WWE spokesman did not immediately respond to a request for comment released Saturday afternoon.