WWE and TKO Risk Major Loss If Crown Jewel Is Canceled

The WWE partnership with the Saudi Arabian government has faced controversy since it began in 2018. The upcoming Crown Jewel event is now complicated by the country's ongoing war with the Houthis.

The US Embassy has ordered non-essential personnel and their families to leave Saudi Arabia while issuing a level three travel warning that recommends restricting travel to the country.

A Houthi missile attack last weekend struck Riyadh International Airport, destroying two gates. The strike killed 13 people and injured over 300 others.

WWE remains scheduled to hold the Crown Jewel event on November 7 despite the recent violence. TKO Group is continuing to monitor the situation in Saudi Arabia.

Cancellation of the event would result in financial losses for WWE and TKO estimated between 70 and 90 million dollars, which would equal nearly a quarter of their quarterly revenue.