Ari Emanuel is happy for WWE to work with Saudi Arabia.
Back in 2018, Emanuel returned a payment (Intended as an investment into Endeavor) from Saudi Arabia following the murder of journalist Jamal Khashoggi. The execution sent shockwaves around the world, with the CIA determining that Saudi Crown Prince Mohammed bin Salman ordered the assassination.
Khashoggi’s murder caused huge tension between the United States and Saudi Arabia, with the fallout still being felt to this day.
The move from Emanuel has been back in the news in recent weeks after Endeavor’s deal to merge UFC and WWE was completed. The sports entertainment giant has a highly lucrative deal in place with Saudi Arabia, which sees two shows per year held in the kingdom.
Some wondered whether Emanuel would look to get out of the deal now that he’s assumed the position as CEO of the TKO Group — the parent company of UFC and WWE.
However, speaking at Bloomberg’s Screentime conference, Emanuel explained his stance and how the relationship will continue to play out.
“I would say, I didn’t want them (Saudi Arabia) — at the time, we weren’t public in our investors stack, okay? I said it on many podcasts about my feelings about the situation. I didn’t say we would never be doing business in Saudi. I just didn’t want them in the financial stack of our investors.
We distribute their now-soccer league through IMG. Because of WWE, we’re in business with them for at least five years. Two events a year, great. They just bought an event from us for the UFC. Great price, we’re doing the event. It will be an unbelievable card. So, I just, at the time, didn’t feel comfortable for many reasons which has been stated. But we’re in business with them now. So, that simple.”
Ari Emanuel Admits Vince McMahon Played Role In Stock Price Fall
During the appearance, Emanuel also discussed the WWE’s media rights deals and the recent announcement that SmackDown will be leaving FOX and moving to the USA Network.
Despite the monster agreement — believed to be worth around $1.4. billion — the TKO Group’s stock price fell. Emanuel put this down to three factors, one of which was the presence of Vince McMahon.
H/t to POST Wrestling