This is a very hectic time for WWE, both on and off the television. While the superstars are gearing up for Wrestlemania 39 this weekend, backstage executives have started the process of looking for buyers interested in purchasing the company.
RELATED: AEW Owner Tony Khan "Paying Attention" To Goldberg's Free AgencyThis sale has largely been driven by the return of Vince McMahon to the WWE Board of Directors after spending months away from the company due to allegations of sexual misconduct. It is a turbulent time for the company with no clear path forward in sight just yet.
WWE Sale Process "Expected to Conclude In The Not Too Distant Future"
On CNBC's Squawk On The Street, David Faver shared an update about the multiple parties interested in purchasing WWE. One party even has plans to merge WWE with UFC. Fightful has provided the following transcription:
What I'm hearing, at least from people familiar with the situation is, it's shaping up to be a pretty good sale process. Some people saying, 'pretty hot and heavy.' Those who were even somewhat doubtful, in fact, that you'd get to a sale in the end, seem less so. Does that mean something gets done here? Unclear. Who is participating? We can all take our various guesses. As reported previously, is there interest from Endeavor, for example, in pursuing what would be a complex transaction in terms of reverse Morris trust where they would spin off UFC into [a new company] and control that company, which would be merged with WWE. Sure, they would like to explore that concept.Is there private equity interest in the part of some? Perhaps in partnership with well-known names in the sport. That's a possibility. Does Liberty (media) have an interest in taking a look? Sure. The Saudis moved heavily into golf, took a look at Formula 1. Would the [Saudi Arabia Public Investment Fund] have interest? Yes, that's a possibility. There may be others. Something has led, at least to a number of people close to this, to indicate to me that it is not just live, but it's going quite well. It is expected to conclude in the not too distant future. A key here though, remains McMahon's real willingness to sell.
Lastly, Faber shared an interesting update on Comcast, a corporation that many expected to be a frontrunner in the sale process.
Comcast, my understanding, not part of this sale process.
