According to WWE, Vince McMahon’s personal payments totaled $19.6 million

Vince McMahon’s unscheduled personal payments as Chairman and CEO of WWE were higher than previously reported, the company said.

Last month, the wrestling-entertainment company announced it would revise its financial statements dating back to 2019 to include $14.6 million in “certain payments” that McMahon should have booked as expenses as chairman and CEO. That was three days after McMahon said he was retiring from WWE, which he announced amid an ongoing investigation into allegations that he had paid several women millions of dollars to remain silent about affairs and other wrongdoing.

In an SEC filing filed Tuesday, WWE said that since the July 25 announcement, McMahon had made two additional payments totaling $5 million in 2007 and 2009 that were unrelated to the allegations , which led to the investigation by the board’s special committee, which should have been included in the Company’s consolidated financial statements. WWE did not provide details on what McMahon’s $5 million payments were for.

WWE had previously aimed to deliver the revised financial statements for McMahon’s personal payments by Aug. 9, but said the information that had come to light about the additional $5 million he had paid made that impossible.

WWE said the board’s special committee investigation into McMahon’s alleged wrongdoing is ongoing. Last month, the company said it had received “regulatory, investigative and enforcement requests, subpoenas.” [and] Claims” related to the ex-CEO’s alleged misconduct.

McMahon remains a controlling shareholder in WWE. Following his retirement, WWE named Stephanie McMahon and Nick Khan as co-CEOs. Stephanie McMahon, Vince’s daughter, has been named Chair of the Board and Khan will continue to serve as a Board Member. According to WWE, Vince McMahon’s personal payments totaled $19.6 million

Charles Jones

24ssports is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – The content will be deleted within 24 hours.

Related Articles

Back to top button