According to Mark Shapiro, President and COO of TKO, WWE is poised to enhance their ongoing partnership with Saudi Arabia in the near future.
Since 2018, WWE has maintained a decade-long partnership with the Kingdom of Saudi Arabia, which has already seen an increase with two major live events held annually.
During his address at the JPMorgan Global Technology, Media and Communications Conference on Monday, Shapiro mentioned that WWE is actively seeking to further this arrangement, with Nick Khan heading up the negotiations. (Credit to Brandon Thurston of Wrestlenomics for the report)
“We want an attractive incentive package whenever we bring our show to a city,” explained Mark Shapiro. “This doesn’t always need to be a direct financial payout. But it does need to be a considerable incentive because the demand is now outweighing the supply. As evidenced by our arrangement with Saudi Arabia, we’ve managed to monetize site fees for WWE.
“Expect us to widen our present deal within the next half a year to a full year. We are very satisfied with MBS and our collaboration with them. We currently host two events each year, but discussions are already underway—spearheaded by Nick Khan—to possibly expand this to include additional events.”
Turki Alalshikh, chairman of the General Entertainment Authority in Saudi Arabia, also indicated that there will be an “enhancement” announced soon regarding the deal.
WrestleZone will continue to update with further details as they are disclosed.
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FAQ about WWE’s Deal with Saudi Arabia
- What is the duration of the current WWE deal with Saudi Arabia?
- How many events does WWE currently hold in Saudi Arabia each year?
- Who is leading the negotiations for expanding the WWE deal with Saudi Arabia?
- What has been said about the future of WWE events in Saudi Arabia?
The current deal is a 10-year agreement that started in March 2018.
WWE holds two premium live events in Saudi Arabia every year.
Nick Khan is leading the talks for WWE to expand their current deal with Saudi Arabia.
Turki Alalshikh, chairman of Saudi Arabia’s General Entertainment Authority, mentioned that an enhancement to the WWE deal will be announced, potentially indicating more events being held in the future.
Conclusion
The relationship between WWE and Saudi Arabia has the potential to deepen in the coming months, with discussions ongoing to potentially host more events than the current two per year. As the demand for WWE’s entertainment offerings continues to grow, the company is looking at strategic opportunities to capitalize on lucrative deals, such as the one with Saudi Arabia. Fans and stakeholders alike will be watching closely for the official announcements regarding any expansions or enhancements to this partnership.