WWE had a lot of pressure on them to cancel the Crown Jewel event from fans, the media and even U.S. Senators. But it looks like they are refusing to budge. They recently announced that the show will carry on in the planned location.
The company’s full reasoning for keeping the event as scheduled was released in their WWE Reports Q3 2018 Results:
“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 related to its event scheduled for November 2 in Riyadh. Similar to other US-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.”
Sir Mitch Says: This is a completely gutless decision by Vince and co! Yes, they would have lost money if they backed out now, but Vince knew who he was getting into bed with. He knew there would be risks.
Besides, chances are WWE’s stock price will take a hit on the back of this news as well as the companies disappointing Q3 financial results. So either way, Vince is going to lose money. At least by backing out he could have displayed at least some halfway decent morals!