Following the news that the Saudi Arabian Public Investment Fund (PIF) will buy professional wrestling company WWE;

Conrad Wiacek, Head of Sport Analysis at GlobalData, a leading data and analytics company, offers his view:

“Saudi Arabia continues to target sporting entities as a means of diversifying its economy under the Vision 2030 strategy. Following the arrival of Cristiano Ronaldo to play his trade in the Saudi Premier League in a deal worth a reported $200 million annually, the purchase of Newcastle United, and the hosting of major boxing and Formula One events, the purchase of WWE highlights the desire for Saudi Arabia to become a major player in the sports industry.

“Saudi Arabia will look at sport as a means of legitimizing the regime, and the end goal of hosting a World Cup and Olympic Games certainly looks promising as the country increases its influence. However, some concerns with the purchase of WWE will include the issues relating to geopolitics, especially regarding conflicts in neighboring countries, and how the ever-increasing Saudi influence in sport will damage the progress being made in women’s sport.

“WWE Co-CEO Stephanie McMahon has already resigned from the company, and women have been forced to cover up for matches at Saudi based WWE events. The reconciliation of an ever-increasing Saudi presence in sports and the development of women’s sports is a reckoning that the industry will have to face in the years ahead.”