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WWE boss Vince McMahon is back in the news and once again it is related to the allegations that he made large hush money payments ($19.6 million) to former female employees who claimed he sexual harassed and assaulted them.
After being relieved of his duties in mid-2022 and retiring, Vinnie Mac returned to WWE in January 2023 after he elected himself to the company’s board of directors.
In April, WWE announced it would merge with UFC through the fight organization’s parent company Endeavor.
As part of the merger, it was announced that McMahon would stay on as the new company’s executive chairman.
"Yes and no. On a higher level, yes.
In the weeds, no. Can't do that."
– Vince McMahon on if he’ll be involved in WWE creative
(via CNBC) pic.twitter.com/GuKQxLG76j— Covalent TV (@TheCovalentTV) April 3, 2023
This week, however, it was revealed in the WWE 10-Q SEC filing that Vince McMahon was going to be “on medical leave until further notice but will remain Executive Chairman of the Company.”
The report stated that McMahon undergoing major spinal surgery is the reason for his temporarily stepping aside.
It was another footnote in the WWE SEC filing, however, that caught many people’s attention.
That was the fact that federal law enforcement agents executed a search warrant on Vince McMahon on July 17 and served him with a federal grand jury subpoena.
WWE also added that despite drawing the interest of federal law enforcement no charges have been filed against McMahon, yet.
Also mentioned in the SEC filing was the fact that WWE “has received voluntary and compulsory legal demands for documents, including from federal law enforcement and regulatory agencies, concerning the investigation and related subject matters.”
That statement refers to an investigation of McMahon’s alleged hush money payments that was conducted by a special committee created by the WWE board. McMahon previously agreed to pay “all reasonable costs incurred in connection” with the investigation.
“To date, Mr. McMahon has paid approximately $17.4 million to reimburse the Company for costs that have been incurred and paid by the Company,” the filing added.
Of note, when Vince McMahon returned to WWE after retiring, not only did he elect himself to the company’s board of directors, he also placed two other people, former WWE executives George Barrios and Michelle Wilson, on the company’s board.
UPDATE: “I am confident that the government’s investigation will be resolved without any findings of wrongdoing,” McMahon wrote in a statement. “In 2022, WWE formed a special committee to review allegations of misconduct against me. That review was concluded in November 2022 following an extensive investigation. Throughout this experience, I have always denied any intentional wrongdoing and continue to do so. I am confident that the government’s investigation will be resolved without any findings of wrongdoing.”
[CNBC]