More details on the Vince McMahon $3 million settlement investigation
As previously noted, it was reported on wsj.com that WWE board members are “investigating a secret $3 million settlement that longtime chief executive Vince McMahon agreed to pay to a departing employee with whom he allegedly had an affair, according to documents and people familiar with the board inquiry.”
According to Fightful Select WWE staff was made aware of the Wall Street Journal article and an internal email was issued. There was also said to have been “immediate speculation” that a person within the company intentionally leaked the information.
Fightful noted the following…
“Sources that we’ve spoken to even indicated that the relationship between Vince McMahon and the paralegal was ‘suspected’ by many in the company, and indicated that she was given a substantial promotion around the time of the April 2021 WWE cuts. We’re told specifically she was promoted from John Laurinaitis assistant to a ‘director’ role that spring.”
A former office employee commented on the situation and that person believes there will be a “domino effect” with McMahon fighting to keep his position with WWE but doesn’t see a scenario where Laurinaitis doesn’t resign from the company.
In regards to McMahon’s future with his own company, Dave Scherer of PWInsider.com wrote that it depends on the board’s findings…
“This is huge. If the woman in question saw the alleged pay bump after the alleged relationship with Vince began, that means company funds may have been used as a reward for a relationship. That is a nightmare for him, and the SEC will surely be interested in seeing if it happened.
I think if it came from his personal funds, it’s a lot better than if it came from WWE funds. If it came from WWE funds, again the SEC will be looking into this. But either way it’s not good, especially since most of his wealth and income is tied to WWE.”