Vince McMahon is currently under investigation for allegedly paying millions as hush money to former WWE employees whom he had extramarital relations with. The 77-year-old reportedly made the payment out of personal funds, prompting WWE to revise several years of financial statements.
Vince McMahon announced his decision to retire from WWE this past Friday, fueling speculations about the company’s future and sparking new debate that the former WWE CEO stepped down because he knew more allegations were on the horizon. WWE will never be the same because of this scandal.
A new report from the Wall Street Journal is stating that federal investigations into the multi-million dollar scandal prompted Vince McMahon to expedite his retirement as chief executive of the sports and entertainment juggernaut. Here’s what the outlet report.
“New federal investigations into the deepening hush-money scandal enveloping World Wrestling Entertainment Inc. hastened the retirement of its chief executive, Vince McMahon, according to people familiar with the matter.”
McMahon named his daughter Stephanie McMahon and top executive Nick Khan as co-CEO’s. WWE put Triple H in charge of the creative division on Monday. For those not in the know, McMahon kept the charge to himself after he stepped down as Chief Executive Officer a few weeks ago.
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