New reports are expected to shed more light on allegations against Vince McMahon and are said to be “damning” for the former WWE CEO.
On July 22nd, Vince McMahon announced his retirement from WWE amidst an investigation into alleged sexual misconduct and hush money payments. On July 25th, the Wall Street Journal reported that a federal investigation into these allegations “hastened” his retirement, which an SEC filing actually calls a resignation.
It was also disclosed via the SEC filing that the company has made “a preliminary determination” regarding payments made between 2006 and 2022 that should have been recorded as business expenses. This includes amounts both already paid and to be paid in the future.
A total of $14.6 million is the reported amount paid by and due to be paid in the future by Vince McMahon. WWE will, as a result, reissue company financial statements for 2019, 2020, and 2021, as well as Q1 of 2022. They aim to reissue these statements by Tuesday, 9 August, though “there is no assurance that it will be able to meet this deadline”.
As grim as these allegations seem, things may indeed get worse for the former WWE CEO as more reports are expected to come to light soon. PWInsider reports that more mainstream outlets are working on stories surrounding the Vince McMahon scandal, with more Wall Street Journal articles expected as well as a report from Bryant Gumbel of RealSports.
Not only that, there is also an HBO Sports story expected according to Bryan Alvarez speaking on Wrestling Observer Live:
“I will say that there are rumors that the HBO Real Sports story on Vince is – one person used the term ‘damning’ and that there might be another Wall Street Journal article coming out this week. They may have gotten ahead of things with this resignation on Friday.”