Vince McMahon is launching WWE with a price tag that raises eyebrows
Image via YouTube/WWE
The ultimate heel Vince McMahon recently returned to the WWE and is reportedly trying to sell the wrestling empire for $9 billion.
If that seems like too big a number for you, you are not wrong. WWE is currently valued at (just) $6.65 billion, but the disgraced former CEO seems to be hoping that one of the potential buyers he’s been courting will take the bait and buy the company for more than it’s worth is worth. According to a report by Bloomberg, McMahon, who is already receiving offers and hopes to sell the company for “up to $9 billion,” may be encouraged by the big names reportedly interested in the wrestling organization.
The original report directly named Endeavor Group Holdings Inc. and The Saudi Arabia Public Investment Fund as two of the companies looking to buy WWE. Endeavor currently owns the UFC and represents the NHL and NFL, but is only worth $11.4 billion, making it unlikely that the company will be able to shoulder WWE’s hefty price tag.
Saudi Arabia already has a 10-year deal with WWE, which ensures the wrestling firm holds two major events in the region each year, and some credible news outlets reported that Investment Fund had already bought WWE earlier this week . The mutual fund is valued at around $614 billion, so in theory spending $9 billion would be a drop in the ocean, but why would the company want to buy an overvalued WWE?
McMahon led the organization for 40 years as CEO and Chairman and is undeniably responsible for building WWE into the entertainment giant it is today. He was ousted from his position in July last year after several women were reportedly paid at least $12 million in hush money over a 16-year period. More women, all former employees, came out with similar allegations of sexual misconduct, and McMahon backed down in the face of the scandal.
His daughter, Stephanie McMahon, served as co-CEO (along with Nick Khan, who is now the sole CEO), but resigned in January when her father returned as executive chairman. The elder McMahon made it clear on his return that he was interested in selling WWE to the highest bidder, and it seems that negotiations must go smoothly if his overvaluation is seriously considered by buyers. McMahon and other board members will make a pretty penny from the sale, and aside from the two companies mentioned in the Bloomberg article, some big names are also reportedly interested in buying WWE.
Multiple news reports have named Disney, Comcast, Amazon and Fox as potential buyers, but is that the truth? A CNBC article has offered a list of speculative buyers who may be interested in a takeover, but there are no solid reports linking any of these companies to actual negotiations with McMahon and company. Given all the speculation, it will be interesting to see who ends up becoming the new owner of WWE and at what cost.
https://wegotthiscovered.com/news/vince-mcmahon-ushers-wwe-into-the-market-with-an-eyebrow-raising-price-tag/ Vince McMahon is launching WWE with a price tag that raises eyebrows
