Vince McMahon Now Under Federal Investigation; Hastened His Retirement

It had been previously reported that WWE had made a new filing with the Securities and Exchange Commission, announcing that Vince McMahon had paid $14.6 million that were not recorded as company expenses. According to a report from the Wall Street Journal, the SEC and federal prosecutors have launched inquiries into payments made by McMahon to settle allegations of sexual misconduct.

The report states that the payments were made from 2006 through 2022. WWE has said McMahon “has or will pay” all the expenses personally, and it expects to revise previous financial statements going back to 2019 to reflect the payments. WWE also said that an internal board investigation “expects to conclude that its internal control over financial reporting was not effective as a result of one or more material weaknesses.”

WWE has lucrative licensing deals with entertainment giants such as Fox Corp. and NBCUniversal, which could be at risk due to these allegations. The company is also seeking new business internationally and in the United States; a crucial deal with Hulu, which streams WWE’s Monday Night RAW program, is set to expire later this year.

We will continue to monitor this story and provide updates as they become available.

Editor’s Opinion:

I have a strange feeling this will get worse before it gets better.

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