World Wrestling Entertainment Inc (WWE) said on Friday Executive Chairman Vincent McMahon had paid $17.4 million to the company to cover costs related to an investigation into his alleged misconduct.
McMahon, credited with transforming WWE from a regional player to a global giant, retired as CEO and chairman of the company in July last year. He returned to the board in January, after the probe was wrapped up.
The Wall Street Journal had reported that he was being investigated by the board for agreements to pay $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.
WWE said in January that it would explore strategic alternatives. McMahon said he would involve himself in the company’s media rights acquisition process as it looks to capitalize on growing demand for content and live entertainment.
WWE’s marquee event of the year, Wrestlemania is slated for the 2nd of April as multiple heavy weight clashes are on the cards and the possibility of titles changing hands.
Roman Reigns will defend his titles against the American Nightmare, Cody Rhodes, while The Usos will take on Sami Zayna and Kewin Owens in an attempt to defend their tag team title.
Another championship will be at stake when Rhea Ripley takes on Charlotte Flair in the women’s championship bout.
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