WWE’s Vince McMahon paid $12 million to settle misconduct allegations, report says

Vince McMahon attends a press conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey.

Michael N. Todaro | beautiful pictures

WWEVince McMahon of Vince McMahon has paid more than $12 million to four women over the past 16 years to stop allegations of sexual misconduct and adultery, According to a report by the Wall Street Journal.

The magazine reported that all of these women were previously affiliated with World Wrestling Entertainment. Newspapers in June that WWE’s board of directors was investigating a secret $3 million payment McMahon made to a legal entity with which he allegedly had an affair.

In Friday’s report, magazine reported three additional secret payments between 2006 and 2018: one of $7.5 million to a former wrestler, who alleges McMahon forced her to give him oral sex and then that refused to renew her contract after she refused subsequent sexual intercourse; another for $1 million to a woman who was a former WWE contractor and said she received unsolicited nude photos from McMahon; and a third for about $1 million to a former manager who worked with McMahon for a decade.

WWE did not respond to CNBC’s request for comment on the latest allegations.

WWE announced last month that McMahon will step down from his roles as CEO and Chairman – but retain responsibilities related to the company’s creative content – pending an investigation into his alleged misconduct. ta. His daughter, Stephanie McMahon, was appointed interim CEO.

“I have committed to fully cooperate with the Special Committee’s investigation, and I will do everything I can to assist with the investigation,” McMahon said in a statement at the time. “I have also pledged to accept the findings and results of the investigation, whatever they may be.”

WWE’s board of directors is investigating McMahon’s dealings with the wrestler and former attorney, the Journal reported. The WWE Board of Directors is also investigating allegations against WWE executive John Laurinaitis, who used to wrestle under the name Johnny Ace.

The investigation, which began in April, was started by several anonymous emails threatening to reveal details of the deal between McMahon and the former legal entity, the Journal reported.

WWE’s stock price fell about 1% at $64.21 on Friday.

Read all Wall Street Journal report.

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