WWE has completed the majority of its investigation into alleged misconduct by ex-CEO and chairman Vince McMahon.
McMahon parted ways with his company on July 22 following mounting pressure from investigations and allegations of misconduct. WWE recently announced that it had spent $1.7 million this quarter in probing McMahon and expects to spend more.
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“While we currently anticipate spending approximately $10 million during the remainder of the year related to this investigation, the related costs could exceed this estimate,” the wrestling entertainment company said in its 10-Q filing for the second quarter of 2022, per Variety.
Among the allegations levied against McMahon is $14.6 million paid in hush money to women regarding alleged affairs and misconduct.
WWE has “received, and may receive in the future, regulatory, investigative and enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters.
“Although we believe that no significant business has been lost to date, it is possible that a change in the perceptions of our business partners could occur as a result of the investigation.”
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Stephanie McMahon, Vince’s daughter, was promoted to co-CEO along with WWE president Nick Khan. Stephanie had announced a hiatus from her executive duties shortly before Vince stepped away.
Paul Levesque, known more commonly by fans as Triple H, has taken a lead on creative direction since Vince ceded control of the business.
