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Vince McMahon Misconduct Investigation ‘Substantially Complete,’ WWE Says

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Todd Spangler NY Digital EditorWWE said its board’s investigation into alleged misconduct by ex-CEO and chairman Vince McMahon is “substantially complete.” The company restated earnings going back to 2019 to account for personal payments McMahon made during his tenure, including $14.6 million allegedly to women in return for their silence about affairs and other misconduct.However, the McMahon investigation may continue to have a financial impact, WWE said in regulatory filings.“While we currently anticipate spending approximately $10 million during the remainder of the year related to this investigation, the related costs could exceed this estimate,” the wrestling entertainment company said in its 10-Q filing for the second quarter of 2022.

As previously disclosed, WWE also has “received, and may receive in the future, regulatory, investigative and enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters,” the company said.

In addition, WWE said, “Although we believe that no significant business has been lost to date, it is possible that a change in the perceptions of our business partners could occur as a result of the investigation.”WWE also noted that until McMahon resigned from the company on July 22, he had led the creative team that develops the storylines and the characters for its programming.

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