Amid an investigation into alleged sexual misconduct by now-former WWE CEO Vince McMahon, the WWE is now revealing that he made additional payments that were “higher than previously reported.”
On Tuesday, the World Wrestling Entertainment disclosed additional unrecorded expenses, now totaling $19.6 million, related to former Chief Executive Officer Vince McMahon. The two additional payments, totaling to $5 million, were made in 2007 and 2009 and are unrelated to an investigation of his alleged misconduct by WWE’s board, the company said in a regulatory filing.
The investigation remains ongoing.
“The company has evaluated the unrecorded expenses and has determined that such amounts should have been recorded as expenses in each of the periods in which they became probable and estimable,” WWE said in the filing. It said all payments classified as “unrecorded expenses” were or will be paid by McMahon personally.
The 76-year-old McMahon said in July he would retire as the company’s CEO and chairman, about a month after stepping back from those roles due to the investigation into alleged misconduct.
McMahon’s daughter, Stephanie McMahon, took over as co-CEO and chairwoman, while her husband Paul “Triple H” Levesque, is now in charge of WWE’s creative content.
