Vince McMahon has made a significant payment of $17.4 million towards the Board of Directors’ Special Committee investigation.
The payment was made in relation to the investigation into allegations of sexual misconduct against McMahon and former Head of Talent Relations John Laurinaitis. This new WWE SEC filing notes that McMahon entered into an agreement to reimburse the company for the costs incurred, which were for a period that ran through January 31, 2023. The agreement includes a release of McMahon by WWE regarding the payment of the costs and a release of the company by McMahon for the investigation and related matters.
The Board of Directors tried to get McMahon to sign a letter in December, agreeing to pay the costs and not return to WWE in exchange for a guarantee that the Board would not sue him for the same costs. However, McMahon returned to the company in January to lead a potential sale of the company, as well as media rights fees.
This development comes after WWE reported that it racked up $21.7 million in costs related to the investigation for the year 2022, in its Q4 & Full Year 2022 earnings release. McMahon had agreed to reimburse the company for “reasonable expenses related to the Special Committee investigation, net of any insurance proceeds.”
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