WWE Board launches inquiry into former employee CEO Vince McMahon’s $ 3M salary for silence

The World Wrestling Entertainment Board is investigating a $ 3 million confidential settlement Vince McMahon, the company’s CEO, agreed to make in a deal with a former employee. The Wall Street Journal Wednesday report.

The Journal reports that the secession agreement, signed in January, is intended to prevent the current employee from discussing his relationship with McMahon or making derogatory remarks about him. An email sent to WWE team members on March 30 stated that McMahon, 76, had hired a 41-year-old former employee with a salary of $ 100,000 and then raised him to $ 200,000 after having sex with him.

The report, citing documents and accounts of those familiar with the board’s investigation, said the panel’s investigation began in April and revealed other undisclosed agreements, including several years of misconduct claims against McMahon and John Laurinaitis, heads of WWE’s talent relations.

An email sent to the board about a former WWE employee who was hired as a legal assistant in 2019 accused McMahon of giving the woman “like a toy” to Lourinadis. The board is investigating allegations of email, the report said. The WSJ board said it had retained law firm Simpson Thatcher & Bartlett to investigate, and that payments for other undisclosed contracts outside the contract involving the former employee were in the millions of dollars.

ESPN’s request for WWE comment was not withdrawn Wednesday night. The WSJ said a WWE spokeswoman would fully co-operate with the investigation and that the relationship between the legal and McMahon was consensual.

McMahon was a member of the then World Wrestling Federation (WWF) led by his father, Vincent J. Acquired from McMahon in 1982, he established the company as a global wrestling powerhouse and media outlet that produced crossover stars such as the Hulk Hogan, The Rock, and “Stone Gold”. Steve Austin and John Cena.

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WWE is a public company, but McMahon still holds the majority of shareholder suffrage.

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