WWE restating financial statements due to unrecorded Vince McMahon expenses
Due to “certain unrecorded expenses” by Vince McMahon dating back to 2006, WWE announced Monday via a regulatory statement that they would restate several financial statements.
The statements for 2019, 2020 and 2021 and the first quarter of 2022 would be revised. The expenses total $14.6 million which McMahon will pay back.
McMahon is currently under investigation by a special committee of WWE’s Board of Directors for alleged hush money payments toward four former female employees totaling $12 million over the past 16 years. The largest of those totaled $7.5 million to a single person.
McMahon, who had voluntarily stepped down as WWE Chairman and CEO while the investigation was going on, retired from the company on Friday, ceding all responsibilities.
On Monday, Paul “Triple H” Levesque was named head of creative while Stephanie McMahon and Nick Khan were officially appointed as co-CEOs. McMahon had taken over as interim CEO and Chairwoman during the investigation.
Since 2011, Josh has been a contributing editor to Wrestling Observer/F4WOnline.com and also hosts the Punch-Out podcast. He has also written for Fight Magazine, Bloody Elbow, Bleacher Report, and other websites. He's a 2000 graduate of the University of Maine, worked in pro sports, and once was an indie ring announcer.