WWE Chairman and CEO Vince McMahon has faced many scandals throughout his life. Now, he is facing another scandal in 2022. The Wall Street Journal has reported that the World Wrestling Entertainment board of directors is currently investigating Vince McMahon’s secret $3 million settlement to a former employee.
The report stated that Vince McMahon and a former employee had an affair. The former employee was recruited in 2019 as a paralegal, and she was then barred by the January 2022 separation agreement from talking about her relationship with McMahon and other negative things about him.
The board’s investigation began in April and exposed many non-disclosed agreements conducted by Vince McMahon and Head of Talent Relations John Laurinaitis. However, there’s no report about how many agreements were investigated, but the total amount paid in non-disclosed agreements is believed to be in the millions.
The investigation has revealed Vince McMahon used his own funds to pay former employees. McMahon’s personal funds were also used for a settlement involving John Laurinaitis. The board of directors has known about the $3 million settlement through a series of anonymous emails.
WWE spokesman Jerry McDevitt has issued a statement on behalf of WWE and Vince McMahon. He stated that “WWE did not pay any monies” to the former employees. He also noted that the company fully supports the investigation.
Simpson Thacher & Barlett LLP (New York law firm) is handling the investigation on behalf of the World Wrestling Entertainment board of directors. The main focus of the investigation is to find out the settlements to the former employees, but they are also trying to understand the WWE’s HR (Human Resources) program and company culture.
We will update you when we receive more details. Stay tuned with The Spotlight.
