Vince McMahon is currently under investigation by the WWE Board of Directors for allegedly paying former employees millions of dollars to cover up misconduct, including an affair with a former paralegal. The Wall Street Journal broke the news about the investigation on Wednesday, and while McMahon (and John Laurentis, also accused in the report) did not respond directly, his attorney denied paying compensation to the former employee at the time of her departure. WWE sent an internal statement regarding the matter – “The Wall Street Journal has published a report on WWE with allegations that we and our Board of Directors take them seriously. We are fully cooperating with the independent investigation initiated by our Board.”
So what could this mean for WWE in the future? Discussed by Dave Meltzer on the last episode of Wrestling Radio Observer, noting that the important thing that could legally get McMahon in trouble is if he used company money to keep employees quiet. He may also be on the hook for granting an unnamed quasi-legal an increase as a result of his sexual relationship, something that directly violates WWE’s Code of Conduct.
From the WWE Code of Conduct, dated January 2022.
Brandon Thurston June 16, 2022
But Meltzer also noted that McMahon simply cannot be voted from his position as chairman and CEO. He owns more than a third of WWE’s Class B stock, and the voting power he gives (just over 80%) would make it impossible for the rest of the board to vote for him. He can choose to resign his position or be pressured by sponsors to do so.
Meltzer noted that some within the company believe that McMahon will be able to survive selec fightSean Ross Sapp of t spoke with some sources at the company who believe his job hasn’t been in that kind of danger since his doping experiments in the ’90s.
Stay tuned for more updates on the situation as they become available. WWE is set to return to pay-per-view on July 2 with an extension money in the bank Happened at the MGM Grand Garden Arena in Las Vegas.