Deal for Saudi sovereign wealth fund to buy WWE 'agreed to in principle': reports

A deal between the owners of World Wrestling Entertainment (WWE) and Saudi Arabia's sovereign wealth fund for purchase of the company has been "agreed to in principle", according to reports.

The WWE acquisition deal was struck with Saudi Arabia's Public Investment Fund (PIF), wrestling site Bodyslam.net reported, citing unnamed sources.

The sources reportedly said that the deal had not yet been finalised "because WWE must provide notice to shareholders & other parties".

The PIF has made a number of sporting acquisitions in recent years, the most high-profile of which has been that of English Premier League side Newcastle United.

Rights groups have accused Saudi Arabia of 'sportswashing' - using these purchases as way of glossing over its human rights abuses.

The kingdom has also hosted a number of WWE events in recent years, including ones featuring women wrestlers.