Vince McMahon attends a press convention at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey.
Michael N. Todaro | Getty Images
World Wrestling Entertainment’s board is investigating a $3 million hush-money settlement that CEO Vince McMahon paid a girl over an alleged affair, The Wall Street Journal reported Wednesday, citing paperwork and other people conversant in the matter.
The settlement, which was struck in January, is meant to forestall the lady, who had labored as a paralegal for the corporate, from discussing her relationship with McMahon or making essential statements concerning the chief govt, the Journal added.
A WWE spokesman instructed the newspaper that the corporate is cooperating with the board’s investigation and that the connection between McMahon and the lady was consensual.
McMahon, 76, is married to Linda McMahon, who served as CEO of WWE and as Small Business Administration chief within the administration of former President Donald Trump, who’s a WWE Hall of Famer.
The report mentioned the board’s investigation, which began in April, additionally revealed nondisclosure pacts associated to misconduct claims from different girls who had labored at WWE. These agreements concerned McMahon and WWE expertise govt John Laurinaitis, who wrestled beneath the identify Johnny Ace, the Journal added.
WWE did not instantly reply to a request for remark from CNBC.
The board retained Simpson Thacher & Bartlett LLP, a New York-based legislation agency, to conduct the investigation, a supply instructed the Journal. The agency did not instantly reply to a request for remark from CNBC.
McMahon’s lawyer, Jerry McDevitt, was not instantly obtainable for remark.
McDevitt instructed the Journal that the previous worker did not make any harassment claims towards McMahon. He additionally mentioned that WWE did not pay her any cash, the paper mentioned.
The information comes at a pivotal time for the wrestling-entertainment firm. In May, govt Stephanie McMahon, the daughter of Vince and Linda McMahon, took a depart of absence from most of her duties on the firm. “WWE is a lifelong legacy for me and I look forward to returning to the company that I love after taking this time to focus on my family,” she tweeted at the time.
WWE has additionally been the topic of hypothesis over a possible sale and its media rights. It has offers with Fox, USA Network, Hulu and NBCUniversal’s Peacock streaming service. The Hulu deal expires this 12 months.
The firm is publicly traded, however McMahon owns nearly all of WWE’s voting shares. He took over the corporate from his father, additionally named Vince McMahon, within the early Nineteen Eighties. Under the youthful McMahon’s oversight, the WWE, then generally known as the World Wrestling Federation, grew to become a world juggernaut. In the a long time since, the corporate has spawned superstars comparable to Hulk Hogan, Bret “The Hitman” Hart, Dwayne “The Rock” Johnson and Dave Bautista.
Read the total Wall Street Journal report right here.
Disclosure: NBCUniversal is the guardian firm of CNBC.
– CNBC’s Candice Choi contributed to this report.
httpspercent3Apercent2Fpercent2Fwww.cnbc.compercent2F2022percent2F06percent2F15percent2Fwwe-board-investigates-secret-3-million-hush-payment-by-vince-mcmahon.html
