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WWE Says Vince McMahon, Under Investigation for Alleged Misconduct, Made Personal Payments Totaling $19.6 Million

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variety.com

Todd Spangler NY Digital EditorVince McMahon’s off-the-books payments while he was chairman and CEO of WWE were higher than previously reported, the company said.Last month, WWE announced that it would revise its financial statements going back to 2019 because $14.6 million of “certain payments” that McMahon made while chairman and CEO should have been recorded as expenses.

That was three days after McMahon said he was retiring from WWE, an announcement that came amid an ongoing investigation into allegations that he paid millions of dollars in hush money to multiple women to keep quiet about alleged affairs and misconduct.In an SEC filing Tuesday, WWE disclosed that since the July 25 announcement, it determined that McMahon made two additional payments totaling $5 million — unrelated to the allegations that led to the special committee investigation — in 2007 and 2009 should also have been recorded in the company’s consolidated financial statements.

WWE had previously aimed to issue the revised financial statements accounting for McMahon’s personal payments by Aug. 9, but said the information that had come to light about the additional $5 million he paid made that infeasible.WWE said the board’s special committee investigation into McMahon’s alleged misconduct remains ongoing.

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