New report explains why Vince McMahon retired

Vince McMahon announced Friday that he is retiring from all of his positions within WWE, including his roles as CEO, Chairman and Chief Creative Officer. The announcement came only five weeks later The Wall Street Journal First, he broke news of the WWE Board of Directors’ investigation into McMahon over silent payments he made to keep some cases of alleged sexual misconduct quiet. The Wall Street JournalJoe Palazzolo and Ted Mann returned with a new report Monday, stating that it was the federal investigation into these payments that led him to announce his retirement very quickly.

The report says the Securities and Exchange Commission and federal prosecutors have launched investigations into these payments, with WWE confirming that it has received “regulatory, investigative and enforcement inquiries, subpoenas or requests.” WWE presented its preliminary financial results for the second quarter of 2022 on Monday, which included an 8-K filing that stated that $14.6 million in payments made by McMahon had not been recorded. As a result, previous financial statements from December 2019 through the first quarter of 2022 will have to be revised.

This story develops…


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