Wall Street Journal: Vince McMahon plots return to WWE
By David Goldman, CNN
Vince McMahon, the former World Wrestling Entertainment chief executive, who retired from the company last year following a hush money and sexual harassment scandal, is plotting a return to the WWE, the Wall Street Journal reported Thursday.
The WWE has disclosed multiple expenses that McMahon hadn’t disclosed, totaling $19.6 million, which forced the company to revise its financial statements for 2019, 2020 and 2021.
Although many of the payments are related to the company’s investigation of his alleged sexual misconduct with former employees, the Wall Street Journal also reported in August 2022 that McMahon made undisclosed payments to of $5 million to former President Donald Trump’s charity, the Donald J. Trump Foundation, in 2007 and 2009.
The Journal in July reported McMahon paid more than $12 million to four women, including the one from the prior report, to cover up “allegations of sexual misconduct and infidelity.”
Now, the 77-year old McMahon is attempting a comeback. He maintains majority voting power in the company through his stock holdings, and he informed the board that he will elect himself and two former associates as a director, the Journal reported Thursday. The board has previously turned down McMahon’s attempts to reinstate himself to the board, and three current board members would have to step down for McMahon and his associates to join, according to the Journal.
The board said it would work with McMahon to review the company’s business practices, but it said it did not believe his return to the board would be in the company’s best interest, the Journal said. It also asked McMahon to repay the undisclosed expenses.
McMahon’s daughter, Stephanie McMahon took over as board chair and co-CEO after Vince McMahon’s retirement in July.
WWE and Vince McMahon did not immediately respond to a request for comment.
The-CNN-Wire
™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
