The Public Investment Fund of The Kingdom of Saudi Arabia is emerging as a possible bidder for World Wrestling Entertainment, Inc. (NYSE:WWE) if the promotion puts itself up for sale, Front Office Sports reported citing sources. The sports entertainment giant is valued at around $6.3 billion. WWE has a deep history with Saudi Arabia, holding its Crown Jewel, Entertainment Live, and Greatest Royal Rumble events in the kingdom in recent years.

And WWE has a 10-year agreement to hold two live events annually in Saud Arabia. The deal is worth $100 million a year to WWE, according to Wrestlenomics.