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WWE President Vince McMahon is being investigated by the company’s board over a reported $ 3 million deal he agreed to pay to a former employee with whom he allegedly had a relationship, according to Wall Street Journalof Joe Palazzolo and Ted Mann.
According to WSJ report:
“The on-board investigation, which began in April, revealed other, older non-disclosure agreements, including allegations by former WWE officials of misconduct by Mr McMahon and one of his top managers, John Laurinatis, head of talent relations. in the WWE, the People’s Journal could not determine how many previous agreements were being carefully considered. “
A WWE spokesman told Palazzo and Mann that the company was “fully cooperating in the on-board investigation and that relations with the former assistant were consensual”.
Palazzolo and Mann said WWE board members received anonymous emails detailing the $ 3 million payment, which was allegedly paid for by McMahon at his own expense.
The author of the emails, who is a friend of the employee in question, said the woman was hired first and given a salary of $ 100,000. The friend said the woman’s salary then rose to $ 200,000 after she began having sex with McMahon.
The emails also say that the woman was so scared that she left after Vince McMahon and lawyer Jerry. [McDevitt] pay her millions of dollars to shut up. “
McDevitt told Wall Street Journal The woman did not make any allegations of harassment against McMahon or did not receive a lump sum of money from WWE when she left.
From a financial point of view, WWE’s health has never been better. The company reported record high revenues of $ 1.1 billion and operating revenues of $ 259 million from its fiscal year 2021. Revenue for the first quarter of 2022 was $ 333.4 million, the highest ever in a quarter.
whatever Wall Street Journal The report comes amid a period of relative uncertainty surrounding the WWE.
The company released a significant number of fighters in 2021, and the departures continue in 2022.
It also doesn’t seem to be a given that another member of the McMahon family will run WWE every time Vince, who turns 77 in August, retires.
Shane McMahon no longer works at WWE. Stephanie McMahon, who became WWE’s chief brand director in 2013, announced in May that she was on leave. Her husband, retired Triple H star, underwent surgery after a “heart event” last September and has seen his behind-the-scenes responsibilities change.
This investigation by Vince McMahon may spark more speculation about WWE’s long-term future.
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