Vince McMahon Agrees To Cover Costs Of WWE’s Hush Money Investigation

The pro wrestling world was shocked to learn of Vince McMahon’s affair involving former employee. It was also reported that Vince McMahon paid $12 million to four women over a 16-year period to suppress allegations of sexual misconduct and infidelity. He continued paying through that hush money investigation.

WWE assigned a special committee to investigate the alleged misconduct by the former Chairman. WWE announced today in its third-quarter earnings report that the investigation is complete, and the committee has been disbanded. The investigation apparently cost the company $19.4 million, which Vince McMahon has agreed to pay.

WWE issued a statement regarding the investigation about the matter.

“As previously announced, a Special Committee of independent members of the Board of Directors was formed to investigate alleged misconduct by Vincent K. McMahon, the Company’s former Chairman and Chief Executive Officer, who resigned from all positions held with the Company on July 22, 2022 but remains a stockholder with a controlling interest, and another executive, who is also no longer with the Company. The Special Committee investigation is now complete and the Special Committee has been disbanded. Management is working with the Board to implement the recommendations of the Special Committee related to the investigation. For the three and nine-month periods ended September 30, 2022, the Company’s consolidated pre-tax results include the impact of $17.7 million and $19.4 million, respectively, associated with certain costs related to the investigation. Please see the Company’s SEC filings, including, but not limited to, its annual report on Form 10-K/A and quarterly reports on Form 10-Q/A and Form 10-Q for further details and ongoing risks regarding this matter.”

Advertising

Advertising

Vince McMahon announced his retirement from WWE amid sexual misconduct allegations. Following his departure, Stephanie McMahon and Nick Khan were named as Co-CEOs while Triple H was put in charge of creative.

What’s your take on this story? Sound off in the comments section.