Vince had an affair with a 41-year-old paralegal employee and paid her 3M in hush money and bumped her salary from 100k to 200k when they began their relationship.
The WWE has been in the news lately for the leave of absence by the daughter of Vince Mcmahon from her executive position. Now a report from Wall Street Journal states the iconic CEO of professional wrestling, Vincent Kennedy Mcmahon Jr. was probed by the board of the WWE over past misconduct.
Vince supposedly passed her over to John Laurinaitis who is also accused of having sexual relationships with employees and paying them hush money.
In a letter to The Wall Street Journal, Mr. McMahon’s attorney, Jerry McDevitt, said that the former paralegal hadn’t made any claims of harassment against Mr. McMahon and that “WWE did not pay any monies” to the ex-employee “on her departure.”
WWE reported record revenue of $1.1 billion last year and net income of $180.4 million, with most of its revenue from selling content rights, including a five-year exclusive agreement with NBCUniversal’s Peacock streaming platform in 2021 that is valued at $1 billion.
From the Wall Street Journal:
The first email, sent to board members on March 30, alleged that Mr. McMahon, 76 years old, initially hired the woman at a salary of $100,000 but increased it to $200,000 after beginning a sexual relationship with her. The email to the board also alleged that Mr. McMahon “gave her like a toy” to Mr. Laurinaitis. The board is investigating the allegations in the email, the people familiar with the inquiry said.
“My friend was so scared so she quit after Vince McMahon and lawyer Jerry paid her millions of dollars to shut up,” the initial email to the board said, referring to Mr. McMahon’s longtime lawyer, Mr. McDevitt, who negotiated the deal, according to people familiar with the board inquiry.
A WWE spokesperson reportedly told the Journal the company is fully cooperating with the investigation and McMahon’s relationship with the paralegal was consensual. McDevitt, McMahon’s attorney, said the paralegal had made no claims of harassment against McMahon and the WWE paid no money to her “on her departure.”
The 12-member board of directors includes several WWE executives and members of the McMahon family, including Mr. McMahon, who is chairman; his daughter Stephanie McMahon; her husband, Paul Levesque, better known as the wrestler Triple H; and WWE President Nick Khan. Man Jit Singh, a former Sony Pictures Home Entertainment executive, is the lead independent director and is running the inquiry, according to people familiar with it.
Ms. McMahon stepped away from her role as WWE’s chief brand officer last month, writing in a LinkedIn post that she was “taking this time to focus on my family” but that she planned to return.
Though its stock is publicly traded, Mr. McMahon effectively controls the company, WWE securities filings show, as he owns a majority of the company’s Class B shares, giving him a majority of shareholders’ voting power. The Class B shares have 10 times the voting power of the Class A shares available to regular investors and are owned exclusively by Mr. McMahon, his family and trusts benefiting individual family members, the filings show.
Board members learned of the $3 million agreement in a series of anonymous emails they received from someone who said the former WWE paralegal was a friend.