In a SEC filing posted on Friday afternoon, WWE announced that company has been paid $17.4 million by Vince McMahon as reimbursement for the costs incurred to conduct a special investigation into his activities that resulted in revisions being made to the historical financial statements.
The payment represents costs paid by WWE through January 31, 2023. The agreement between McMahon and WWE further provides for reimbursement of additional costs incurred after January 31st in connection with and/or arising from the same matters.
In 2022, McMahon resigned from the Board of Directors after allegations were made that he had personally paid off former employees to not disclose a sexual relationship with McMahon. The Board of Directors conducted a special investigation and determined that the payments ultimately benefitted the company, forcing a filing with the SEC that the financial statements would need to be revised to reflect those payments.
In 2023, McMahon used his controlling voting interest to re-insert himself into the Chairman position. In doing so, McMahon noted that his primary objective in that role would be to explore opportunities to sell the company. Since his return, McMahon has reportedly not been involved in the creative aspects of the company, though was reportedly backstage at a recent episode of Monday Night RAW.
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