There’s now a timeline for when World Wrestling Entertainment could be sold.
According to Josh Nason of Wrestling Observer/Figure Four Online, professional wrestling journalist Dave Meltzer reported during the latest edition of the “Wrestling Observer Radio” program that JPMorgan is assisting WWE in its attempt to sell the company by the middle of 2023.
Meltzer’s update came less than a full week after it was first reported that majority owner Vince McMahon planned to return to WWE to help sell the promotion and/or lead upcoming media rights negotiations. McMahon, 77, retired as WWE chairman and CEO last summer amid a sexual harassment scandal that involved alleged hush money payments to multiple women.
The saga took an interesting and unexpected turn on Tuesday when Stephanie McMahon, Vince’s daughter, officially stepped down as co-CEO of WWE. This left Nick Khan as WWE CEO and resulted in Vince McMahon being elected the company’s executive chairman of the board.
Meltzer explained that Khan participated in meetings with “heavy hitters” that included Disney CEO Bob Iger and ESPN chairman Jimmy Pitaro while in Los Angeles for the College Football Playoff National Championship Game between the TCU Horned Frogs and Georgia Bulldogs. UFC parent company Endeavor and Saudi Arabia’s Public Investment Fund (PIF) are also among the potential buyers of WWE.
Meltzer admitted “there was smoke” to Internet rumors that claimed Tuesday night that PIF, which finances the LIV Golf professional tour, had already bought WWE. Meltzer added no sale was close as of Thursday.
WWE’s media rights agreements with Fox and USA expire in 2024. It’s unclear if the company could be sold before negotiations regarding future deals get underway later this year.
