Vince McMahon Retirement From WWE Reportedly Quickened by Sexual Misconduct Investigation
Editors’ note: This story contains accounts of sexual assault. If you or someone you know is a survivor of sexual assault, contact the National Sexual Assault Hotline at 1-800-656-4673 or at https://www.rainn.org.
Vince MacMahon’s retirement from the WWE last Friday was reportedly quickened due to federal investigations into reports that the 76-year-old has paid millions of dollars to cover up claims of sexual misconduct and infidelity, according to The Wall Street Journal.
The Securities and Exchange Commission and federal prosecutors have launched inquiries into payments that McMahon supposedly made to settle allegations of sexual misconduct, per the WSJ. WWE disclosed the inquiries in a recent securities filing that also said the company was still conducting an ongoing internal investigation which uncovered agreements by McMahon to make payments totaling $14.6 million from 2006 through 2022.
In mid-June, the Wall Street Journal first reported that the WWE board was investigating a “secret” $3 million settlement made by McMahon to a former paralegal with whom he had allegedly an affair in 2019. Two days later, he stepped down as CEO, with his daughter and former WWE Chief Business Officer Stephanie McMahon stepping into the role.
The Wall Street Journal then published a follow-up report on July 8, uncovering that McMahon agreed to pay more than $12 million over the past 16 years to “suppress allegations of sexual misconduct and infidelity” made by four women. The payments were made to the four women who were formerly associated with WWE, including the former paralegal and a former wrestler who alleged that McMahon had coerced her into performing oral sex.
McMahon officially retired on Friday as the internal investigation continued. He announced that Stephanie McMahon has been named WWE’s new chairwoman and that she will remain one of WWE’s new co-CEOs alongside Nick Khan.
Paul Levesque, better known as the wrestler “Triple H”, will take over WWE’s creative operations, in addition to his usual responsibilities.
