WWE Crown Jewel To Go On As Scheduled In Saudi Arabia
In their Q3 Financial Report, the WWE announced that their Crown Jewel show being held Friday November 2 in Saudi Arabia will go on as scheduled.
From the report:
WWE has operated in the Middle East for nearly 20 years and has developed a sizable and dedicated fan base. Considering the heinous crime committed at the Saudi consulate in Istanbul, the Company faced a very difficult decision as it relates to its event scheduled for November 2 in Riyadh. Similar to other U.S.-based companies who plan to continue operations in Saudi Arabia, the Company has decided to uphold its contractual obligations to the General Sports Authority and stage the event. Full year 2018 guidance is predicated on the staging of the Riyadh event as scheduled.
JC’s Take: The WWE took the money in the long run. My guess is they felt the temporary backlash they will get from this is less than the long term effect their stock price would suffer if they backed out. Of course, now that they are still going they might face a backlash from sponsors who might pull out from the WWE.
Of course if you watched RAW and Smackdown this week they gave more hype to Crown Jewel than Evolution. Any criticism from fans and media won’t matter to the WWE though unless it affects their bottom line, which my guess is it won’t in the long run.
I’ll be interested to see if any wrestlers actually back out now.
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