The hashtag “RIPWWE” started trending on Wednesday on Twitter after reports that the professional wrestling promotion WWE is being sold to Saudi Arabia’s Public Investment Fund.

The reports of WWE being sold emerged hours after Stephanie McMahon announced that she was resigning from the company and her father Vince McMahon returned as the Chairman of the Board.

Also Read | Vince McMahon: Net worth, age, wife Linda McMahon, daughter Stephanie McMahon and more

No official confirmation has been put out on whether or not McMahon has sold his empire. According to reports, the company is still listed on the New York Stock Exchange, having opened trading at $87 and closed at $90.24. 

Meanwhile, WWE fans on social media have already started mourning the demise of the company. “YO WE GOTTA APOLOGIZE TO CM PUNK NOW BRO WAS RIGHT #RIPWWE,” one of the social media users said, while another noted, “AEW over the news of Vince McMahon selling the WWE company to the Saudi Prince #RIPWWE.” One more commented, “I’ll just try to remember the good times. #RIPWWE.”  

Also Read | History of WWE: How it became world’s largest professional wrestling company

A Twitter user stated, “Vince really pulled up like… #WWE #RIPWWE #SaudiArabia# SOLD #AEW” Another noted, “If sale to Saudi goes through, expect following to happen:

– @SamiZayn & others leave @WWE due to beliefs
– TV deals ended in numerous Countries
– Worldwide ratings & sales plummet
– Women become more “conservative”

In all, NOT a good thing! #WWE#RIPWWE.” One more tweeted, “I Really Feel BAD For @StephMcMahon She Worked So HARD For this COMPANY for so Long #RIPWWE.”

  WWE is the biggest professional wrestling company, having entered into broadcasting deals all over the world. The company went public on August 3, 1999. It was previously owned by the McMahon family. Vince resigned as the WWE chairman in July last year following accusations of sexual misconduct against him reports surfaced and WWE launched an investigation against him.