The Kingdom of Saudi Arabia is undoubtedly WWE’s most significant rainmaker. WWE signed a ten-year deal with the country in 2018. The deal sees WWE organize two events in the nation per year. However, due to the global pandemic, additional time may be added to the contract as a few events did not take place in 2020. According to a new report, the Saudi government pays WWE a whopping $50 million per event.
It’s worth noting that WWE’s parent company, Endeavor Group, is not on good terms with Saudi Arabia. After the murder of the journalist, Jamal Khashoggi, Endeavor severed its ties with Saudi Arabia.
In the wake of the incident, Endeavor even returned Saudi Arabia’s $400 million investment. However, Ari Emanuel will reportedly honor WWE’s current deal with Saudi Arabia.
The Saudi Arabia government reportedly pays WWE $50 million per event
According to WWE’s filings per Wrestlenomics, WWE earns $50 million per event from the Kingdom of Saudi Arabia. Each year, the wrestling promotion organizes two events in the country. So, they annually make $100 million a year. This means that WWE hits its most significant gate courtesy of Saudi Arabia.
According to a report, WWE’s largest gate in 2016, WrestleMania 32, was $17.3 million. The number is nowhere as significant as the revenue that is generated from Saudi Arabia from a single event.
This year, WWE will organize King and Queen of the Ring in Saudi Arabia on May 27. The Premium Live Event(PLE) will emanate from Jeddah Super Dome.
The next event will most likely be the Crown Jewel PLE in November. WWE’s last visit to the nation was last year in November at Crown Jewel. The main event saw Roman Reigns defend his WWE World titles against Logan Paul.
WWE seemingly feigned its sale to Saudi Arabia to increase its demand in the market
Just days after Vince McMahon made his chaotic return, it was reported that WWE was sold to Saudi Arabia’s PIF. Fast-forward to the present day, the report turned out to be untrue. According to conspiracy theorists on Twitter, WWE strategically faked its sale to Saudi Arabia’s PIF to increase its demand in the market among potential bidders.
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