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WWE President Vince McMahon is under investigation by the company’s board regarding a $ 3 million deal he agreed to pay to a former employee with whom he allegedly had an affair, according to the Wall Street JournalJoe Palazzolo and Ted Mann.
By WSJ report:
“The board’s investigation, which began in April, has uncovered other older confidentiality agreements involving claims of former WWE employees for misconduct by Mr McMahon and one of its top executives, John Laurinaitis, the head of WWE ‘s talent relations, told People. The Journal could not determine how many previous deals were being examined.
A WWE spokesman told Palazzolo and Mann that the company “is fully cooperating with the board’s investigation and that the relationship with the ex-paralegal was consensual.”
Palazzolo and Mann reported that members of the WWE board received anonymous emails detailing the $ 3 million payment, which was allegedly paid by McMahon with his personal funds.
The author of the emails, who was a friend of the employee in question, said the woman was hired first and received a $ 100,000 salary. The friend said the woman’s salary rose to $ 200,000 after she began having sex with McMahon.
Emails also said the woman “was so scared she resigned after Vince McMahon and lawyer Jerry [McDevitt] he paid millions of dollars to shut up. “
McDevitt told him Wall Street Journal the woman did not file a harassment complaint against McMahon or receive a lump sum of money from the WWE when she left.
Financially, WWE’s health has never been better. The company recorded record revenue of $ 1.1 billion and operating income of $ 259 million since fiscal year 2021. Revenue for the first quarter of 2022 was $ 333.4 million, its highest in a single quarter.
However, the Wall Street Journal The report comes amid a period of relative uncertainty surrounding the WWE.
The company launched a significant number of fighters during 2021 and the outings have continued until 2022.
Nor does it seem like a fact that another member of the McMahon family will lead the WWE every time Vince, who turns 77 in August, leaves office.
Shane McMahon no longer works in the WWE. Stephanie McMahon, who became WWE’s brand director in 2013, announced in May that she was taking a leave of absence. Her husband, retired star Triple H, underwent surgery after a “cardiac event” last September and has seen her behind-the-scenes obligations change.
This research by Vince McMahon could fuel more speculation about the long-term future of the WWE.