Vince McMahon attends a press convention at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey.
Michael N. Todaro | Getty Photographs
International Wrestling Leisure’s board is investigating a $3 million hush-money agreement that CEO Vince McMahon paid a lady over an alleged affair, The Wall Boulevard Magazine reported Wednesday, bringing up paperwork and other people aware of the subject.
The settlement, which used to be struck in January, is meant to stop the lady, who had labored as a paralegal for the corporate, from discussing her dating with McMahon or making essential statements concerning the leader govt, the Magazine added.
A WWE spokesman informed the newspaper that the corporate is cooperating with the board’s investigation and that the connection between McMahon and the lady used to be consensual.
McMahon, 76, is married to Linda McMahon, who served as CEO of WWE and as Small Industry Management leader within the management of former President Donald Trump, who’s a WWE Corridor of Famer.
The record mentioned the board’s investigation, which began in April, additionally published nondisclosure pacts associated with misconduct claims from different ladies who had labored at WWE. Those agreements concerned McMahon and WWE skill govt John Laurinaitis, who wrestled below the title Johnny Ace, the Magazine added.
WWE did not instantly reply to a request for remark from CNBC.
The board retained Simpson Thacher & Bartlett LLP, a New York-based regulation company, to behavior the investigation, a supply informed the Magazine. The company did not instantly reply to a request for remark from CNBC.
McMahon’s legal professional, Jerry McDevitt, used to be no longer instantly to be had for remark. McDevitt informed the Magazine that the previous worker did not make any harassment claims in opposition to McMahon. He additionally mentioned that WWE did not pay her any cash, the paper mentioned.
The scoop comes at a pivotal time for the wrestling-entertainment corporate. In Might, govt Stephanie McMahon, the daughter of Vince and Linda McMahon, took a depart of absence from maximum of her tasks on the corporate. “WWE is a lifelong legacy for me and I sit up for returning to the corporate that I really like after taking this time to concentrate on my circle of relatives,” she tweeted on the time.
WWE has additionally been the topic of hypothesis over a possible sale and its media rights. It has offers with Fox, USA Community, Hulu and NBCUniversal’s Peacock streaming provider. The Hulu deal expires this yr.
The corporate is publicly traded, however McMahon owns nearly all of WWE’s vote casting stocks. He took over the corporate from his father, additionally named Vince McMahon, in 1982. Underneath the more youthful McMahon’s oversight, the WWE, then referred to as the International Wrestling Federation, was an international juggernaut. Within the many years since, the corporate has spawned superstars equivalent to Hulk Hogan, Bret “The Hitman” Hart, Dwayne “The Rock” Johnson and Dave Bautista.
That is some distance from McMahon’s first brush with controversy. In 1993, he used to be indicted on federal fees associated with anabolic steroids, which he and a number of other skilled wrestlers within the WWF strong used. He used to be acquitted of the fees in 1994. McMahon and the corporate additionally got here below hearth in 1999 for proceeding a display after celebrity Owen Hart, a brother of Bret’s, fell to his demise from an enviornment’s rafters whilst staging a stunt. The corporate ultimately agreed to pay the Hart circle of relatives $18 million over the wrestler’s demise.
Learn the whole Wall Boulevard Magazine record right here.
Disclosure: NBCUniversal is the mum or dad corporate of CNBC.
– CNBC’s Candice Choi contributed to this record.
