WWE says former CEO Vince McMahon received $14.6 million in “unrecorded expenses” from 2006 to 2022 and that he will review his past financial results to account for the payments. “All payments based on unbilled expenses have been or will be paid in person to Vince McMahon,” the company said in a regulatory filing Monday morning.
Additionally, the company revealed that it is facing an investigation into McMahon’s payments, which were allegedly to former employees with whom he had a personal relationship.
In a regulatory filing, the company addressed the payments, adding that it “has also received and may in the future receive regulatory, investigative and enforcement requests, subpoenas or lawsuits arising out of or relating to these matters.”
McMahon resigned from WWE on Friday and on Monday the company officially announced that his daughter Stephanie McMahon and WWE President Nick Khan will become 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 regulatory documents say it is “in progress”. McMahon allegedly had sex with women who worked for the company and paid $14.6 million in damages over the years.
The company also released preliminary financial results on Monday, saying they are subject to review. Results included operating income of $69.8 million, compared to $46.3 million in the same quarter last year.
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
