WWE Finds $14.6 Million In Payments By Vince McMahon That Weren’t Recorded As Company Expenses
A new 8-K filing reveals payments from Vince McMahon.
WWE posted an 8-K filing on July 25 announcing Preliminary Financial Results for the Second Quarter 2022. In the filing, it is revealed, “The Company has made a preliminary determination that certain payments that Vince McMahon agreed to make during the period from 2006 through 2022 (including amounts paid and payable in the future), and that were not recorded in the WWE consolidated financial statements, should have been recorded as expenses in the quarters in which those agreements were made (the “Unrecorded Expenses”). As of the date hereof, the Company has identified Unrecorded Expenses totaling approximately $14.6 million. All payments underlying the Unrecorded Expenses were or will be paid by Vince McMahon personally.”
McMahon is being investigated by the WWE board over alleged hush money and sexual harassment allegations.
In the regulatory filing, the company addressed the payments, adding that it “has also received, and may receive in the future, regulatory, investigative and enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters.”
On July 8, the Wall Street Journal published a report stating McMahon “agreed to pay more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.”
McMahon retired as WWE CEO on July 22. Stephanie McMahon and Nick Khan were named Co-CEOs.
Fightful will provide more details on Vince McMahon retiring and the fallout when they are known. Fightful Select has backstage reactions and more.
