WWE’s Share Price Falls After PFL’s Saudi Investment
The share prices of WWE suffered a huge setback after the recent decision of the PFL to sell a share in the company in return for Saudi investment.
That is according to reporter Brandon Thurston. The PFL was given in excess of $100 million after Saudi Arabia’s Public Investment Fund (PIF) bought a stake. The entity in question, SRJ Sports Investments, made the move which marked the Saudi’s latest foray into sports. The country has already shown its ambition with investments in football and boxing. The news was welcomed by the PFL, as the company’s founder Donn Davis stated.
“PFL’s mission is to become the global co-leader in MMA with our fighter-first mission and disruptive sport-season format. This investment by SRJ continues the monumental growth that PFL has experienced throughout the world, and there is no better partner in global sports than SRJ,” Donn Davis
In response, the WWE has suffered. Following the recent merger between the WWE and UFC to form TKO Group Holdings, there was a big expectation that the UFC would become an even bigger player on the global field. While that is still possible to some degree, the share prices of WWE have suffered due to the increased competition. And that is the last thing that the organization expected given that they had expected big things following the news.
WWE Before The PFL Investment
“We delivered solid results this quarter at Endeavor and are closing in on the launch of TKO Group Holdings. Our share repurchase plan and dividend payment initiatives will begin in the third quarter, and we remain focused on maintaining prudent capital allocation and delivering long term sustainable growth for the company,” Endeavor CEO Ari Emanuel
However, this will play a positive part for fans moving forward. The major MMA players will be forced to provide fans with value for money. And if that can have the impact of getting the biggest fights made, then that can only be a good thing moving forward.
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