WWE Facing Investigations Related to Vince McMahon Payments, Former CEO Paid $14.6M Since 2006
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The WWE says that former CEO Vince McMahon paid $14.6 million in “unrecorded expenses” from 2006 through 2022, and that it will revise its previous financial results to account for the payments. “All payments underlying the Unrecorded Expenses were or will be paid by Vince McMahon personally,” the company said in a regulatory filing Monday morning.
In addition, the company disclosed that it is facing investigations related to the McMahon payments, which were reportedly to former female employees with whom he had personal relationships.
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In the regulatory filing, the company addressed the payments, adding that it “has also received, and may receive in the future, regulatory, investigative and enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters.”
McMahon retired from the WWE on Friday, and on Monday the company officially announced that his daughter, Stephanie McMahon, and WWE president Nick Khan, would become co-CEOs. Stephanie McMahon’s husband, Paul “HHH” Levesque, now oversees talent relations and the creative side of the business.
The WWE board of directors is investigating the payments made by Vince McMahon, and the regulatory filing says that it “remains ongoing.” McMahon allegedly had sexual relationships with women who worked at the company and paid the accumulated $14.6 million as part of severance packages over the years.
The company also released preliminary financial results on Monday, noting that they are subject to revision. The results included operating income of $69.8 million, compared to $46.3 million in the same quarter a year earlier.
