WWE sold to Saudi Arabia’s Investment Fund

 

Report: WWE sold to Saudi Arabia’s Investment Fund

WWE (World Wrestling Entertainment) is a publicly traded company that has been entertaining audiences with professional wrestling events for decades. One aspect of the company's business strategy has been to expand its reach to international markets, and in recent years, Saudi Arabia has become a major player in this expansion.

In 2018, WWE announced a 10-year partnership with the Saudi General Sports Authority to bring its events to the kingdom, starting with the "Greatest Royal Rumble" event held in Jeddah in April of that year. The event was met with widespread criticism due to Saudi Arabia's human rights record, but WWE defended the partnership, stating that it was a "cultural exchange" that would promote "goodwill" between the two countries.

Since then WWE has continued to hold multiple events in the Kingdom , these events called the "Crown Jewel" and were heavily promoted by the company. These events have been met with mixed reactions, with some praising the potential for increased international exposure and revenue for the company, while others have criticized the company for effectively "selling out" to a regime with a poor human rights record.

Critics argue that the WWE has ignored the human rights concerns, and turned a blind eye to the concerns related to the Kingdom's political climate and human rights record, in order to continue to profit from the partnership.

In conclusion, while WWE's partnership with Saudi Arabia has certainly brought the company significant financial gains and exposure, it has also been a source of controversy and criticism. The company's decision to continue working with the Saudi government despite ongoing human rights concerns has raised ethical questions about the role of corporations in international politics and the intersection of sports and politics.

WWE has not been sold to Saudi Arabia's Investment Fund, The Saudi General Sports Authority, partnership with WWE is only to organize events in Saudi Arabia, but the company remains a publicly traded entity and is not owned by Saudi Arabia. The Saudi Arabia's General Sports Authority provides a significant amount of funding for the events in Saudi Arabia as part of the partnership, which has been met with mixed reactions. Some have praised the increased international exposure and revenue for the company, while others have criticized the company for effectively "selling out" to a regime with a poor human rights record by partnering with them.