The company said that Vince McMahon’s off-the-book personal payments he made as WWE chairman and CEO were higher than before, the company said.
Last month, the wrestling entertainment company announced that it would revise its financial statements going back to 2019 to account for the $14.6 million of “certain payments” that McMahon spent as president and CEO. should have been recorded. McMahon said it was three days after he retired from WWE, which he announced amid an ongoing investigation into allegations that he had paid several women millions of dollars to keep quiet about affairs and other misconduct.
In an SEC filing on Tuesday, WWE revealed that since the July 25 announcement, it had learned that McMahon had made two additional payments totaling $5 million — unrelated to allegations that the Board’s Special Committee to Investigate. Inspired – in 2007 and 2009, whatever should have been recorded in the company’s consolidated financial statements. WWE did not provide details about McMahon’s $5 million payout.
WWE had previously aimed to release revised financial statements for McMahon’s personal payments by August 9, but said that the information revealed about the additional $5 million payment was not possible.
WWE said the Board’s Special Committee investigation into McMahon’s alleged misconduct is ongoing. Last month, the company revealed that it had received “regulatory, investigative and enforcement inquiries, subpoenas [and] demands” in relation to the former CEO’s alleged misconduct.
McMahon remains a stockholder with a controlling interest in WWE. Following his resignation, WWE named Stephanie McMahon and Nick Khan as co-CEOs. Stephanie McMahon, Vince’s daughter, was appointed chair of the board, and Khan would continue to serve as a member of the board.