Vince McMahon has made a significant payment this week towards the Board of Directors' Special Committee investigation into misconduct allegations against McMahon and former Head of Talent Relations John Laurinaitis.
According to an SEC filing by WWE on Friday, Executive Chairman Vincent McMahon paid WWE approximately $17.4 million on March 23 in accordance with a deal negotiated with the company.
McMahon, credited with transforming WWE from a regional player to a global giant, retired as CEO and chairman of the company in July last year. He returned to the board in January, after the probe was wrapped up.
The Wall Street Journal reported that he was being investigated by the board for agreements to pay $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.
A special committee of WWE's board of directors conducted the investigation, which included revising the company's financial statements for 2019, 2020 and 2021, and the first quarter of 2022, it said.
WWE said in January that it would explore strategic alternatives. McMahon said he would involve himself in the company's media rights acquisition process as it looks to capitalise on the growing demand for content and live entertainment.
(With inputs from agencies)
Featured Video Of The Day
Parents Gave Names Of Interns, Doctors To CBI In Kolkata Horror: Sources
WWE Legend John Cena Announces Retirement After 20 Years In The Ring Indian-Origin Lawyer Suspended Over Sexual Misconduct At UK Firm Professional Wrestler John Klinger Dies Suddenly Aged 40 Life On Earth Originates From One Ancestor, Older Than Previously Believed Send Reports Every 2 Hours: Centre To States On Kolkata Horror Protests Siddaramaiah's Swipe At Governor Amid Calls For Resignation: 10 Points Trump, Kamala Harris To Fight For Pennsylvania Votes With Rally, Bus Tour Send Reports Every 2 Hours: Centre To States On Kolkata Horror Protests Thar, Scorpio SUVs Inside Restricted Zone In Ranthambore Tiger Reserve Seized Track Latest News Live on NDTV.com and get news updates from India and around the world.