It’s unknown if additional motion will probably be taken towards the chief chairman
Vince McMahon has reimbursed the World Wrestling Leisure Inc (WWE) $17.4 million to cowl prices associated to an investigation into his alleged sexual misconduct, in line with paperwork filed with the SEC on March 20.
The paperwork exhibits that McMahon’s cost was made on Thursday, March 23 and it lined prices by means of January 31, 2023. Moreover, it states, “McMahon will even overview in good religion and reimburse the Firm for extra prices incurred by the Firm and/or its subsidiaries subsequent to January 31, 2023,” that means he’s agreed to pay any extra prices after that date.
In July 2022, The Wall Street Journal reported McMahon agreed to pay greater than $12 million over the previous 16 years to suppress allegations of sexual misconduct and infidelity. McMahon stepped away from his firm whereas the investigation into the alleged sexual misconduct started.
Shortly after McMahon, who’s credited for reworking WWE from a wrestling territory primarily based in New England to a sports activities leisure universe, retired as CEO and chairman of the corporate in July final 12 months.
McMahon returned to the corporate and have become the chief chairman in January when the investigation was full. It’s unknown if additional motion will probably be taken towards McMahon.
WWE stated earlier this 12 months that it could discover strategic alternate options. “McMahon stated he would contain himself within the firm’s media rights acquisition course of because it seems to capitalize on rising demand for content material and reside leisure,” according to Reuters.