Fact check: Is UFC buying WWE?

A few hours before WrestleMania 39 Night Two, CNBC reported that WWE could be purchased as soon as Monday. Vince McMahon has been working on a potential sale of the company since January, with early reports suggesting a deal with Saudi Arabia's Public Investment Fund.

According to CNBC's Alex Sherman, the parent company of Ultimate Fighting Championship, the Endeavor Group, could be nearing a deal with the sports entertainment juggernaut. Sherman stated that a deal could be announced as early as Monday, and the two promotions are expected to form a new publicly traded company as part of the agreement.

"Endeavor is slated to own 51% of the new combat sports and entertainment company, while shareholders would get 49%, according to the people. The Endeavor deal gives WWE an enterprise value of $9.3 billion, they said." [H/T: CNBC]

Vince McMahon also recently penned a two-year employment contract with WWE, securing his position within the promotion even after a sale.

Early rumors suggested a WWE sale to Saudi Arabia

Earlier this year, rumors swirled on social media regarding a possible sale of the promotion to the Kingdom of Saudi Arabia's Public Investment Fund. After a 24-hour period where fans, critics, and those under contract with the company vented frustration at the very idea, our own Chris Featherstone reached out to a source close to the situation to confirm that the rumors were false.

Per his source, morale within the company was incredibly low at that time. It was rumored that quite an important handful of performers were ready to walk if the company did agree to such a deal. Triple H and other executives also debunked the rumors of the Saudi deal in a talent meeting days after the chatter began to spread throughout social media.

However, Vince McMahon's return to the company stemmed from wanting to make a sale, and it seems that we finally have an answer as to who that buyer is.

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