WWE could have a new owner soon, claims 21-time champion

WWE could have a new owner soon, according to a 21-time champion. The Stamford-based promotion was acquired by Endeavor Group Holdings in 2023 and placed under the TKO banner alongside UFC.

Since the TKO takeover, there has been growing criticism of the company's approach. Exorbitant ticket prices have been a major point for fans.

According to Stevie Richards, TKO is doing this to maximize profits and increase its portfolio so it can eventually sell WWE to Saudi Arabia. On The Stevie Richards Show, the 21-time Hardcore champion said TKO's ultimate goal is this.

"I look at this, and if people have countered us on this, if you don’t think that they’re setting it up to be sold and bought by Saudi Arabia, then you’re foolish. There’s no other way to cut salaries, cut people, raise ticket prices. Never talk about the amount of people, but talk about the gate, the money you drew, the merch you sold. You’re literally setting it up to be sold," he said.

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Richards added that TKO Group Holdings is cutting costs as much as possible and increasing the price it can sell the wrestling promotion for.

"You’re lowering all your overhead as much as possible, inflating the portfolio so that you maximize the amount of money you sell it for. That’s all they’re trying to do," he said.

Stevie Richards says TKO is being elitist with WWE ticket prices

During the conversation, Stevie Richards also questioned TKO's high ticket prices and how they affect fans.

He said the owners turning a deaf ear to fans' demands was elitist behavior. He also mentioned that they have doubled prices over the past two years, despite declining product quality.

If TKO does decide to sell WWE to Saudi Arabia, it won't come as a surprise to many. The sports entertainment giant has been in a partnership with the Gulf nation since 2018 and recently announced that WrestleMania 43 will take place in the Kingdom.

If you use quotes from this article, please credit The Stevie Richards Show and give an H/T to Sportskeeda Wrestling for the transcription.