According to several reports Vince McMohan might be hoping to sell World Wrestling Entertainment (WWE) for about a $9 billion deal. McMohan, 77 years old, is WWE's controlling shareholder.
After a strategic review of the business, Vince McMohan restored himself as the executive chairman of the WWE. Reportedly, McMohan earlier left the company following the charges, that he had paid millions of dollars to settle the sexual misconduct allegations.
The valuation of WWE at $9 billion is seven times the annual sales of the company at $1.29 billion and 23 times of the adjusted operating income including amortization and depreciation. These are certainly high figures for the entertainment sector.
With the increased loan rates and unstable global economy, Vince McMohan might not find many buyers willing to pay this amount, according to reports. The acquisition rumors of WWE has also increased its stock price to about 30 percent in 2023.
According to the reports the WWE has already received several offers however the company refused to comment on the same. As per Bloomberg reports, there are several Middle Eastern Investors and Endeavor Group Holdings (owner of Ultimate Fighting Championship) among the potential buyers of WWE.