WWE sent in a press release Monday night announcing the expansion of their partnership with the Saudi General Entertainment Authority (GEA).
The announcement also mentions that negotiations are continuing between WWE and the GEA to secure a longterm television deal in the Middle East and North Africa region.
WWE will hold two live events per year in Saudi Arabia through the year 2027.
WWE’s relationship with Saudi Arabia has been the subject of a great deal of coverage over the past several days. In addition to the majority of the WWE crew getting stranded in Saudi Arabia after Crown Jewel, uncertainty about the MENA TV deal has led to a crash in WWE’s stock price. This new agreement should help the stock bounce back in a big way this week.
Here’s the official word from WWE regarding the extended partnership:
WWE AND THE SAUDI GENERAL ENTERTAINMENT AUTHORITY EXPAND EVENT PARTNERSHIP
STAMFORD, CONN. and RIYADH, SAUDI ARABIA, November 4, 2019 – Following the historic Crown Jewel event in Riyadh, WWE and the Saudi General Entertainment Authority (GEA) have expanded their live event partnership through 2027 to include a second annual large-scale event. WWE and GEA also continue to work towards the completion of a media agreement in the MENA region.
This long-term partnership demonstrates WWE and GEA’s commitment to bring sports entertainment to the region and supports Saudi Arabia’s Vision 2030.