Board of Administrators of World Wrestling Leisure Inc. is investigating a secret $3 million fee that CEO Vince McMahon made to a former worker with whom he allegedly had an affair, the Wall Avenue Journal experiences, citing individuals acquainted with the board’s motion.
McMahon had different non-disclosure agreements about alleged misconduct by feminine workers that have been being investigated by the board of administrators, the newspaper stated, citing Individuals.
The investigation, which started in April, additionally reportedly uncovered comparable contracts made with former workers on behalf of John Laurinaitis, a former WWE wrestler who handles expertise relations. The newspaper stated it couldn’t decide what number of such pacts have been being revised.
A consultant from WWE didn’t instantly reply to a request for remark. McMahon and Laurinaitis have been additionally unable to be contacted by Bloomberg Information.
To this point, the board has concluded that McMahon paid the settlement together with his personal cash, the paper stated, citing one individual acquainted with the scenario.
McMahon’s legal professional, Jerry McDevitt, informed the newspaper in a letter that the previous worker, a paralegal, had not filed any costs of harassing his consumer. McDevitt was unavailable for remark.
McMahon, 76, made WWE well-known by providing skilled wrestling matches on tv and in arenas. His daughter Stephanie, who additionally labored for the corporate, took a depart of absence in Might.
WWE shares fell about 1.2% after hours earlier than bouncing again. They’re up about 36% this 12 months by Wednesday’s shut.