Vince McMahon’s controversial return to the WWE is still one of the biggest wrestling news of 2023. The veteran promoter resigned last year after reports emerged that he paid millions of dollars to suppress sexual misconduct allegations against him. McMahon made his return earlier this year to find a potential buyer for his billion-dollar company.
According to the latest report from Bloomberg.com, Vince McMahon is aiming to get a whopping $9 billion for his company. The company has a market value of $6.5 billion but the asking price is greater than 37% of the value as of now. The report also says that the company has already received several offers but they’ve declined to comment on the situation.
Vince McMahon is asking for $9 billion to sell WWE.
— WrestlePurists (@WrestlePurists) February 17, 2023
Also, the company has already received a couple acquisition offers.
– Bloomberg pic.twitter.com/PrHFb46OIs
Endeavour Group Holdings Inc., which owns the Ultimate Fighting Championship (UFC), is one name that’s linked with buying WWE. There is also interest from the Middle East as Saudi Arabia’s Public Investment Fund is also monitoring the situation.
There were reports that Vince McMahon had already sold the company to Saudi Arabia’s PIF. The news was later revealed to be false after massive backlash from fans. WWE CEO Nick Khan has said that the aim of Vince’s arrival is to maximize the value of the company. He also said that the billionaire will leave his position if it’s in the best interests of the shareholders.
Fans react to Vince McMahon setting a ridiculous price for WWE
WWE fans had interesting reactions to Vince’s valuation of his company. Many fans on social media mocked McMahon and some even joked that nobody will buy the promotion for the rate. Certain people even claimed that Vince intentionally increased the price to eliminate other buyers and help Saudi Arabian PIF gain ownership.
Check out some of the fan reactions below:
Conspiracy Theory: Vince shooting the valuation higher so that when no one comes to the table he can fire Nick Khan, with a legitimate reason to shareholders (could not get the sale price for investors) , to get his revenge for Nick going to WSJ. He then takes the reigns as CEO.
— Common Sense (@CommonS37481141) February 17, 2023
That’s a bit nuts in this environment no? #WWE #WWE2KShowDown https://t.co/XH6Gf0cfdZ
— Susan Li (@SusanLiTV) February 17, 2023
Sorry so in simpler terms – WWEs value is $6.5b and vince wants $9b?
— Tyler (@CarlTylerPS5) February 17, 2023
There are growing concerns regarding Triple H’s position in the company among fans. Since taking over Creative duties from Vince McMahon, Hunter was able to improve the product massively.
There are fears among certain talents and fans that Triple H will be replaced by Vince McMahon after the big sale goes through. Considering McMahon’s recent track record as the Head of Creative, the product quality could drop down if he takes charge again.
WWE expects the sale to go through by mid-summer and it’ll be interesting to see who the new owners of the company will be.