As we have seen over the past few weeks, there has been some major controversy surrounding WWE’s Crown Jewel Event in Saudi Arabia due to the fact that Saudi Journalist Jamal Khashoggi was believed to have been killed by The Saudi Government. Several US Senators have already given their statements that WWE should not continue their Crown Jewel Event in The Kingdom Of Saudi Arabia. Despite this, WWE as well as some of it’s Superstars & Legends have said that it would be a much better idea if they pushed through with the event. It was even reported that WWE may move the event to The UK.
If WWE does decide to cancel Crown Jewel or move it’s location, Wall Street Analyst Eric Handler of MKM Partners’, via Deadline, estimated that it could result in a $2-3 Million hit to their fourth-quarter cash flow. According to Handler, if WWE decides to go ahead and completely pull out of their deal with Saudi Arabia it could cost WWE $12-16 Million in 2019 operating income. Since The WWE has been so quiet about the situation, he believes that they are still considering moving the event. Even still, Handler has given The WWE stock a “buy rating” amidst the controversy with a 12-month price target of $95.