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VINCE McMAHON has been in talks about selling WWE to Newcastle Saudi Arabia’s owners and is expected to return as Head of Creative and Exciting Reporting.
The American sports and entertainment mogul resigned last year as Chairman and CEO of WWE amid allegations of sexual assault.
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Vince McMahon returned to WWE to help sell the companyCredit: Splash
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Roman Reigns is currently the biggest star in WWE
But McMahon confirmed in a statement that he will return to the board of directors to help facilitate the sale of WWE.
According to DAZN, WWE has been sold to the Public Investment Fund of Saudi Arabia, which also owns English Premier League team Newcastle.
It will see the company return to being private, while McMahon is expected to return as Chief Creative Officer.
But it is understood that talks about the deal are still in the early stages, and the acquisition has not been finalized yet.
The Saudi Public Investment Fund (PIF) in October 2021 acquired Newcastle City from its unpopular owner Mike Ashley in a £300m deal.
Boxing, Formula 1, golf and WWE superstars have all been honored in the Middle East in recent years.
WWE has held an annual pay-per-view event, Crown Jewel, in Saudi Arabia since 2018.
But, as with other sports, the decision has been criticized due to Saudi Arabia’s human rights record.
However, WWE has maintained a strong relationship with the Saudis over the years, which has led to acquisition talks.
McMahon is the controlling shareholder in WWE, but he stepped down as chairman last June.
It came after it emerged that the 77-year-old had paid $12m (£9.8m) to four women over a 16-year period to quell allegations of sexual misconduct and infidelity.
He left the company in the hands of his daughter, Stephanie, 46, and son-in-law, Paul Levesque, the WWE legend known as Triple H.
But today Stephanie has stepped down as co-CEO and chair of the board after her father returns as CEO.
Husband Triple H is expected to continue his role as Chief Content Officer, with Nick Khan serving as Chief Executive Officer of WWE.
SunSport has reached out to WWE for comment.
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Vince McMahon with his daughter Stephanie McMahon and Triple HCredit: Getty
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