Shapiro says risk of moving WrestleMania 43 from Riyadh is minimal as TKO reports 1% Q3 WWE revenue drop
TKO President Mark Shapiro told analysts during the 2026 TKO earnings call that the risk of relocating WrestleMania 43, which is scheduled for Riyadh, Saudi Arabia in 2027, is minimal amid the ongoing Middle East conflict, and he also addressed a 1% year-on-year decline in WWE revenue for third-quarter 2026. He linked the slight revenue drop to fewer main roster premium live events and lower ticket sales for SummerSlam.
WWE is planning to stage WrestleMania 43 in Riyadh in 2027, marking the promotion’s first WrestleMania outside North America, and internal reports have hinted at April 10 and 11, 2027 as possible dates. Crown Jewel is still scheduled this year after being moved from KAFD to the Venue (ANB Arena) in Riyadh. Shapiro noted that the company has staged events in the Middle East without interruption so far and that there are three events left this year, including Crown Jewel on November 7.
Asked in the Q&A whether the ongoing conflict in the Middle East could force a cancellation or relocation of a premium live event, Shapiro described the chance as very small and emphasised that past events in the region had proceeded. He said, “I would tell you that the risk is extremely minimal. I think we’ve endured the tough climb thus far this year. We’ve had no events interrupted. We’ve staged all of our events in the Middle East flawlessly. We have three events left this year. One being November 7th with Crown Jewel which should be a big one for us. We are all systems go, and I would just say further, Vice President comes out today and says it’s very clear voters have spoken, and they’ve obviously spoken with their votes, and we need to get this conflict in Iran wrapped up. So, just a week ago, you’re talking about dropping more bombs, and now they’re talking about wrapping up. Who knows what’s real and what’s true, or just proceeding forward with our partners as if these events will go off without a hitch, and I would just add for those of you that are concerned about if this extends further, does this put WrestleMania which is in Saudi next year at risk, I would just tell you it’s at no more risk than it ever was, given that the world is an unpredictable place.”
On financial and logistical safeguards for WrestleMania, Shapiro said the company has already received part of the contracted payment from its Saudi partners and has contingency venues available. He stated, “But we have already been paid half upfront and received the funds from our partners in Saudi, and if and when our event ever had to be moved because it would never be cancelled, we will certainly and definitely see payment on the other half so come rain or shine, we’re getting the other half payment. So we’re sitting in a good place, and as far as contingency goes, it’s a long list of cities, primarily in the U.S., that we would move a WrestleMania to. Of course you wouldn’t get the F.I.P. because it would be last minute. But nonetheless, we’d get the sell-out. So we have cities lining up kind of raising their hands, standing willing, ready, and waiting, and we’ll cross that bridge when we come to it but frankly, we’re not concerned.”
TKO’s third-quarter 2026 results showed WWE revenue declined 1% versus the same period a year earlier, a fall Shapiro attributed to scheduling fewer main roster PLEs and weaker SummerSlam ticket sales. Addressing concerns about sales strategy, Shapiro said, “We don’t make all of our decisions on just maximizing our profitability. It’s about what’s best for our fans, our brand, our audience, viewership, and our media partners. Going back to the midwest is important to us, and Minnesota is a strong market and it performed extremely well in the stadium. We’re proud of that,” and added, “Engagement is strong, viewership is strong, and business is good at WWE.”
Shapiro also discussed international expansion across WWE and UFC partnerships and referenced ongoing discussions in other markets. He said talks with Abu Dhabi about UFC’s partnership are progressing and commented on WWE’s potential return to Japan, stating, “I’m also pretty bullish about some conversations that Nick Khan is having about bringing WWE to Tokyo next year.” WWE programming recently moved to Netflix, and the promotion held a live event on October 18, 2025, at the Ryōgoku Kokugikan Sumo Hall in Tokyo.
Crown Jewel on November 7 at the ANB Arena in Riyadh remains scheduled to proceed, and Shapiro said the company is prepared with contingency plans should relocation ever be required. With three events still on the calendar this year, Crown Jewel on November 7 is the next confirmed fixture.