World Wrestling Entertainment (WWE) is looking to pin down a sale despite previous doubts that long-time Chairman Vince McMahon would be willing to sell.
But CNBC's David Faber described the negotiation process as "hot and heavy" despite the fact that McMahon owns nearly 40% of WWE and holds more than 80% of the voting power.
DON'T MISS: How Much Money Vince McMahon Reportedly Wants to Sell WWE, Per Report
"Is there private equity interest? Yes. Perhaps in partnership with well-known names in the sport? That's a possibility," Faber said Tuesday while noting that WWE has a couple of attractive inflection points in the near future including Wrestlemania and its expiring television contracts.
"A key here though remains McMahon's real willingness to sell," Faber said.
WWE Asking Price
There were reports last month that McMahon was looking to sell the company for as much as $9 billion.
McMahon, controlling shareholder in WWE, returned to the company in January as executive chairman and is getting started on negotiations for a new television deal.
Potential buyers include Endeavor Group Holdings (EDR) and others in the Middle East, according to Bloomberg.
At 77 years old, McMahon is overseeing a strategic review of the company, having originally left WWE in 2022 after revelations he had settled sexual misconduct claims for millions of dollars.
