WWE CEO Vince McMahon Steps Down After Reportedly Paying $3 Million To Former Employee To Hide Affair

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has signed a deal with World Wrestling Entertainment. On Thursday, he shared photos and videos of himself (watch above) at the WWE headquarters in Connecticut, signing his contract ahead of the SummerSlam event.

Todd Spangler NY Digital EditorLogan Paul, the YouTube creator and digital influencer who’s built a career as a pro fighter, has signed a contract to be a WWE Superstar.Now that Paul is officially under contract with WWE, sources familiar with the pact said, he will stay with the wrestling entertainment company for the near future and will perform across multiple events, which would take him through next year. He’s previously appeared on “WWE Smackdown” and “WrestleMania.”WWE and Paul shared the news Thursday on social media and share photos of his visit to the company’s headquarters in Stamford, Conn.

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WWE Chairman/CEO Vince McMahon was a winner and a loser this week.

Still in the ring. Hours after Vince McMahon confirmed he would be stepping down as the CEO and Chairman of World Wrestling Entertainment (WWE), he was in great spirits to open the SmackDown Live show.

Joe Otterson TV ReporterVince McMahon opened “SmackDown Live” on Friday night with a brief appearance in the ring.McMahon strutted to the ring with a smile on his face as his theme music — “No Chance in Hell” — played over the speakers. He kept his remarks brief, saying, “It is a privilege as always to stand before you here tonight, the WWE universe…I’m here simply to remind you of the four words we just saw in what we call our WWE signature.

the company announced on Friday.The investigation centers around a $3 million hush money payment from McMahon to a former employee with whom he allegedly had an affair.  broke the story on Wednesday, stating that the separation agreement with the former employee was signed in January. McMahon also allegedly gave the employee a pay raise from $100,000 to $200,000 at the start of the affair before passing the woman off «like a toy» to WWE's head of talent relations John Laurinaitis.The report also stated that that the investigation uncovered other similar nondisclosure agreements with employees dating back several years.A WWE press release issued Friday morning stated that, «McMahon will retain his role and responsibilities related to WWE's creative content during this period and remains committed to cooperating with the review underway.»«I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,» McMahon said in the press release.

After decades of serving as the CEO of the World Wrestling Entertainment (WWE), Vince McMahon is stepping down.

Vince McMahon has “voluntarily stepped back” from his roles as chairman and CEO of the WWE.

announced Friday.Stephanie McMahon, Vince’s daughter who took a leave of absence last month from her role as the company’s chief marketing officer, will serve as interim CEO and chairman.

Vince McMahon has “voluntarily stepped back” from his responsibilities as WWE CEO and chairman while the board of directors investigates claims of misconduct against the exec, the company said Friday.The board of WWE has launched an investigation into allegations that McMahon offered a $3 million settlement to a former female employee with whom he had an affair, according to a detailed investigative report Wednesday by the Wall Street Journal.WWE said Stephanie McMahon, Vince’s daughter, will assume the role of interim CEO and interim chairwoman. She comes back to the company after last month announcing a leave of absence as WWE’s chief brand officer to “focus on my family.”Vince McMahon will retain his role and responsibilities related to WWE’s creative content during the investigation and remains “committed to cooperating with the review underway,” the company said Friday.

Vince McMahon, the driving force behind the WWE and the company’s chairman and CEO, is stepping aside pending an investigation into “alleged executive misconduct” by a special committee of the board of directors.

Wall Street Journal. The separation agreement, from January 2022, includes a nondisclosure clause wherein the ex-employee — who was first hired as a paralegal in 2019 and two years later became an assistant to talent relations chief John Laurinaitis — is barred from disparaging McMahon or speaking publicly about their affair.