The fallout from the sexual misconduct allegations made against Vince McMahon continues.
A new securities filing made by WWE has revealed that McMahon paid the company $17.4 to cover the costs of the investigation into his conduct.
The filing states:
“On March 20, 2023, World Wrestling Entertainment, Inc. (the “Company”) entered into a reimbursement agreement (the “Agreement”) with Vincent K. McMahon, the Company’s Executive Chairman, director and controlling stockholder.
The Agreement provides that Mr. McMahon will pay the Company approximately $17.4 million to reimburse the Company for the costs that have been incurred and paid by the Company and/or its subsidiaries, through January 31, 2023, in connection with and/or arising from the investigation conducted by a special committee of the Company’s board of directors, related revisions to the Company’s financial statements and other related matters. Such payment was made on March 23, 2023. T
he Agreement further provides that Mr. McMahon will also review in good faith and reimburse the Company for additional costs incurred by the Company and/or its subsidiaries subsequent to January 31, 2023 (or that have been incurred by the Company and/or its subsidiaries and not yet paid as of January 31, 2023), in connection with and/or arising from the same matters.
The Agreement also includes a release of Mr. McMahon by the Company regarding the recovery of the costs described above and a release of the Company by Mr. McMahon regarding the investigation and related matters described above.”
Vince McMahon Returned To WWE In January
Vince McMahon initially retired in July 2022 surrounded by allegations of sexual misconduct. It was claimed that he paid numerous women a series of “hush money payments” in order to suppress the allegations.
On January 19th, 2023 it was reported that McMahon had reached a settlement with former referee Rita Chatterton. The settlement was in relation to a 1986 incident where Chatterton alleged that she was raped by McMahon.
The news of the agreement came after it was reported in 2022 that McMahon had reached a number of legal settlements with former employees in relation to other allegations. In one instance he paid a former wrestler $7.5 million after she claimed that he had coerced her into giving him oral sex.
However, despite this, McMahon returned to WWE and the Board of Directors in January and was elected Executive Chairman.