TKO Group Holdings could see its quarterly profit drop by as much as $90 million if it has to cancel its upcoming events in the Middle East.
Dave Meltzer offered the estimate on the latest edition of Wrestling Observer Radio, amid concerns about Crown Jewel taking place in Saudi Arabia.
According to Meltzer, the estimate covers three events, one from WWE and two from UFC. He put the financial hit at $70 million to $90 million, or roughly one-fourth of TKO’s quarterly profit.
Meltzer also noted that pulling Crown Jewel out of Saudi Arabia could hurt TKO’s business relationship with the Saudi government and jeopardize plans to hold WrestleMania 43 there in 2027.
POST Wrestling estimated that Crown Jewel alone accounts for roughly $45 million to $50 million of TKO’s fourth-quarter results.
The figures can also be measured against the financial results TKO released in August. The company posted net income of $303.9 million and total revenue of $1.547 billion in the second quarter.
In September, Meltzer explained on Wrestling Observer Radio that a postponement of Crown Jewel would not necessarily mean a permanent loss of the revenue expected under the Saudi contract. At the time, he said WWE could add another date at the end of the deal and later collect the $55 million to $60 million tied to the event.
The new estimate, then, covers the impact on a single quarter’s results if the three events aren’t held as planned.
Meanwhile, PWInsider reported that WWE still plans to hold Crown Jewel in Saudi Arabia and is working with a security team that specializes in the region.
As previously reported, Ari Emanuel told Fox News that TKO is monitoring the situation daily and is already working on alternatives in case it has to move the event.
Crown Jewel remains set for November 7 at Riyadh Season Stadium in Riyadh.