The WWE says that former CEO Vince McMahon has paid $14.6 million in “unrecognized expenses” between 2006 and 2022, and that it will review its past financial results to account for the payments. “All payments underlying the unrecorded expenses were or will be paid personally by Vince McMahon,” the company said in a regulatory filing Monday morning.
In addition, the company disclosed that it is facing investigations into the McMahon payments, which allegedly involved former female employees with whom it had personal relationships.
In its regulatory filing, the company detailed the payments, adding that it “has also received, and may in the future receive, regulatory, investigative and enforcement requests, subpoenas or demands, arising out of, related to, or related to these businesses.”
McMahon retired from WWE on Friday, and on Monday, the company officially announced that its daughter, Stephanie McMahon, and WWE President Nick Khan would become co-CEOs. Stephanie McMahon’s husband, Paul “HHH” Levesque, now oversees talent relationships and the creative side of the business.
WWE’s board of directors is investigating payments made by Vince McMahon, and the regulatory filing says it “continues to be ongoing.” McMahon reportedly had sexual relations with women who worked at the company and paid the $14.6 million accrued over the years as part of severance payments.
The company also released preliminary financial results on Monday, noting that they are subject to revision. The results include operating income of $69.8 million, compared to $46.3 million in the same quarter a year earlier.