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WWE CEO and President Vince McMahon “voluntarily retired” from his roles within the company amid an investigation into an alleged relationship and a payment with a WWE employee, according to Wall Street Journal. Here’s everything we know about McMahon’s ongoing research so far.
What are the complaints?
McMahon is being accused of having an affair with a former WWE paralegal and paying him $ 3 million as part of a separation deal since January that also forbade him from discussing or disparaging her relationship with him, according to the Wall Street Journal.
According to the WSJ report, an internal investigation by a special WWE committee found that McMahon had issued similar confidentiality agreements with other former WWE employees alleging misconduct by both McMahon and the head of public relations. WWE talent, John Laurinaitis.
WWE board members reportedly began investigating McMahon in April, after learning of the CEO’s alleged misconduct via anonymous emails sent to the company by someone claiming to be a friend. of the former WWE paralegal.
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What does this mean for stories?
According to a joint WWE board press release, McMahon will retain his “role and responsibilities” on creative stories while under investigation.
And what does it mean for the company?
It is unclear at this time whether McMahon will resume his duties as CEO or chairman. For now, her daughter Stephanie McMahon will serve as CEO and interim president of the company. He may have taken over if his father left office for good.
Paul “Triple H” Levesque, who is the husband of Stephanie, a former WWE superstar and executive vice president of global strategy and talent development, could be selected to lead the company instead of Vince, though his health could be an obstacle. In September, Levesque suffered heart failure, forcing him to retire to the ring, according to ESPN. The Wrestling Observer newsletter also reported that Levesque has returned to full-time work at WWE offices, recruiting new wrestlers after recovering from his health problems.
Shane McMahon, Vince’s son, could also take over as CEO given his previous experience reserving wrestling programs with the WWE and its competitor “Monday Night Wars” WCW, although his chances are pretty low after the his release from the company in February after the company. Pay-per-view Royal Rumble, according to Sports Illustrated.
Fans and the media speculated that the recent mass release of WWE wrestlers could indicate the company’s plan to sell. Although Nick Khan, president and director of WWE Revenue, denied the rumor. Khan said the WWE was “not in active conversation” or “actively seeking to sell,” according to Bleacher Report.
Has WWE been sued or investigated before?
In 1994, Vince McMahon was accused of supplying illegal drugs to improve performance by the U.S. Attorney for the Eastern District of New York. The jury found McMahon not guilty.
In 1999, Martha Hart, the wife of the late Owen Hart, sued the WWE (then known as the World Wrestling Federation) for a negligent death claim after the wrestler fell to his death in his grappling harness. it malfunctioned during its entry from the beams into the ring. on pay-per-view Over the Edge. Controversially, the company decided to continue the event while Hart was being evacuated from the Kemper Arena at Truman Medical Center where he died of severe trauma and internal bleeding. WWE issued a $ 18 million deal to Martha in 2000, which she used to form the non-profit charity, the Owen Hart Foundation.
In 2002, the United Kingdom Court of Appeal ruled in favor of the World Wildlife Foundation, which sued the then World Wrestling Federation for breaching its 1994 agreement with the banning organization. use of the WWF acronym by the wrestling company, according to CNET. This decision led the company to change its name to World Wrestling Entertainment.