WWE Board of Directors Investigating Alleged Multi-Million ‘Silent Pact’ Payment Made By Vince McMahon to a former employee after the couple allegedly had an affair, according to a new report from The Wall Street Journal.
WSJ claims that World Wrestling Entertainment’s 12-member board – of which Vince is chairman – is investigating the circumstances surrounding the alleged affair and the subsequent payout.
For your information, WWE is a publicly traded company on the NYSE. Shares of the company closed nearly 5% higher on Wednesday, despite the newspaper’s report going public earlier in the day. Even though it’s a public company, Vince wields immense power within wrestling’s top promotion.
In January 2022, McMahon, the CEO and Chairman of WWE, reportedly agreed to pay a former employee with whom he had an affair for a total of $3 million…over 5 years.
The woman – who was reportedly hired as a paralegal in 2019 – says McMahon paid $1 million up front … and the remaining $2 million was to be spread over 5 years.
Vince was married to his wife Linda since 1966.
What’s interesting is that WWE’s board of directors is partly made up of Vince and his family.
Her daughter Stephanie McMahon — who recently stepped aside company to spend time with her family and husband Triple H (Paul Levesque), as well as Chairman of WWE Nick Khanare all on the board.
The other 8 members hired a New York law firm to investigate the situation with VM and the ex-employee.
According to the Journal, the preliminary investigation shows that McMahon made a payment using “personal funds.”
As for WWE, the company told the WSJ it was cooperating fully with the board’s investigation and added that the relationship with the woman was consensual.