WWE: WWE being sold to Endeavor Group Holdings, forming media company $21B merger with UFC

[Megahab]

Are you seriously asking how the Saudi fund (in essence: the Saudi royal family) are scum? really?

No I'm not asking that at all.

 

[Unholy Diver]

WWE isn't going to die if they sold to the Saudis. It'll be fine.

I hate it and they'll make changes I'll hate, but WWE will still make tons of money and AEW won't catch them.

As much as the reaction here is negative, this might actually benefit the wrestlers, the PIF has basically a bottomless amount of money, around 60 times as much as Shad Khan, this could have a very positive impact on salaries for the guys and girls

 

[Jussi]

SRS comments:

-Reiterates time and time again that nothing is confirmed on his end

-He said the wrestlers are “really really mad” and “really frustrated” about the news

-“What do you not have when you’re owned by a company in Saudi Arabia? A CEO that’s a woman” one source said to SRS earlier today

-Thinks there’s a chance Saudi’s “grossly overpaid” for the company based on the other businesses that were bidding for WWE

-“If there was a group that would have Vince retain any semblance of creative control creatively, it would be with the Saudi’s” but mentions their relationship isn’t perfect and speaks on the problems between Vince and the Saudi prince

-“100%, yes” when asked if employees and talent will walk out on WWE if/when this is official

-“There could be a real, REAL possibility that nothing is happening.” Says putting it out on Twitter could’ve been a litmus test of sorts to see what the reaction online would be

-SRS believes it would be hard for WWE to get a rights deal based on how the LIV golf negotiations went

-“Absolutely not” in regards to HHH leaving the wrestling business if he is let go by WWE

-SRS believes this deal could ruin Jay White and other free agents coming to WWE. Mentions it moreso being about Vince being back in control rather than the Saudi’s

-SRS believes Fox and USA “won’t be keen on” renewing TV deals if this deal happens

-“How could he stay?!” In regards to Sami Zayn’s standing with the company if this happens

 

[Megahab]

It's an investment group funded by the Saudi government. They own large stakes in a lot of big American companies across a lot of industries, and outright own Newcastle and that PGA competitor.

Part of the reason is to white wash their country to foreign investors and tourists (Gulf states have pumped a ton of money into PR to try and attract wealthy western tourists to visit. Saudis are a bit late to the party compare from the UAE, but they are trying)

Other reason is it's pure vanity purchases. They want to flash the absurd money they all have to the world

Ahh I somehow missed that this sale is Saudi government funded.

 

[Emperoreddy]

As much as the reaction here is negative, this might actually benefit the wrestlers, the PIF has basically a bottomless amount of money, around 60 times as much as Shad Khan, this could have a very positive impact on salaries for the guys and girls

They will throw absurd money to keep talent from walking and to try and get new talent to sign.

They also most likely play hard ball with anyone under contract trying to break out early.

 

[GKJ]

It won't be the same as LIV. WWE is an established property.

 

[Emperoreddy]

Ahh I somehow missed that this sale is Saudi government funded.

It's a sovereign wealth fund, which is just a way to say its a state owned investment fund.

It's one of the largest in the world and also one of the least transparent. Basically it's shady as all hell

 

[Megahab]

If this is true, I wonder how this will affect TV deals and the Mattel deal. What about US venue booking?

 

[Emperoreddy]

It won't be the same as LIV. WWE is an established property.

Yeah it's a bit naive to think media companies will flat out not want to renew WWE over this.

They most likely will try to leverage this to save them some money, but WWE will still be on American TV. These companies don't care

 

[Emperoreddy]

If this is true, I wonder how this will affect TV deals and the Mattel deal. What about US venue booking?

The venues don't give a flying f*** as long as tickets are being sold.

 

[Emperoreddy]

There is an important lesson here. Billionaires and corporations are not your friend.

Do not stan for rich people or their massive companies. Any of them. Incredibly stupid thing to do

 

[Neil Patrick Harris]

Man, wrestling storylines these days are getting way too unbelievable for my tastes

 

[Sheppy]

In light of all of this. Good wrestling is still on TV Wednesday nights.

 

[Emperoreddy]

In light of all of this. Good wrestling is still on TV Wednesday nights.

Meh, Dynamite hasn't been good for a while either, and I don't like to stan billionaires no matter what company they own

 

[Sheppy]

Meh, Dynamite hasn't been good for a while either, and I don't like to stan billionaires no matter what company they own

I think the shows have been fine. Tomorrows show looks fantastic.

 

[McDavid is too whiny]

Meh, Dynamite hasn't been good for a while either, and I don't like to stan billionaires no matter what company they own

Can someone not enjoy AEW without “stan’ing” anybody?

 

[GKJ]

Yeah it's a bit naive to think media companies will flat out not want to renew WWE over this.

They most likely will try to leverage this to save them some money, but WWE will still be on American TV. These companies don't care

What is more likely is WWE and LIV become a package deal.

 

[the valiant effort]

Remember when something or other was carried out in large part by 15 Saudi nationals…

Bloomberg:

Saudi-Backed LIV Golf Is Using PGA Suit to Get Data on 9/11 Families, Court Told​

 

[Blitzkrug]

Not everyone is backing off it appears.

 

[Emperoreddy]

It would not shock me if something illegal went down here and the whole deal goes up in smoke

 

[Emperoreddy]

Kind of why I'm so confused by this. These things aren't something that just comes together this fast like a wrestling storyline.

Buyouts take a long time to hash out

 

[Blitzkrug]

Do they need shareholder approval when Vince basically holds all the power though because of the way their dual-class share shit works?

 

[Emperoreddy]

Do they need shareholder approval when Vince basically holds all the power though?

I don't think they do since the plan is to take the company private, but I think there is usually more to it legal wise.

Also usually the buyer wants to take time to look over the books before moving forward, but they have f*** you oil money so maybe they don't care.

The rush, assuming it's true, seems suspicious to me

 

[Emperoreddy]

I will say this it is not a positive for anyone that the biggest wrestling company, including its libraries, history, etc, is potentially at the whim of the Saudi Royal Family.

If shit goes super sideways and fans abandon ship, most of them most likely stop watching wrestling all together.

Wrestling becoming even more niche isn't a good thing

 

[Blitzkrug]

I don't think they do since the plan is to take the company private, but I think there is usually more to it legal wise.

Also usually the buyer wants to take time to look over the books before moving forward, but they have f*** you oil money so maybe they don't care.

The rush, assuming it's true, seems suspicious to me

The Saudis tried to throw 3 quarters of a billion dollars at the broken down remains of Tiger Woods to play on their shitty little golf circuit. Something tells me they don't care about the cost if they can speed things up.

For all we know Vince was talking to them behind closed doors when he was away and deal was already done to the point it's just signing off on it.