WWE boss McMahon’s hush cash bill reportedly over $12 million

The amount is significantly larger than previously known.

NEW YORK — Longtime World Wrestling Entertainment impresario Vince McMahon agreed to pay more than $12 million over the past 16 years to quash allegations of sexual misconduct and infidelity, The Wall Street Journal reports.

The amount is significantly larger than previously known.

Four women – all former members of WWE – have signed agreements with McMahon, 76, preventing them from discussing their relationships with him, the Journal reported Friday, citing people familiar with the deals and documents showing the checked it.

McMahon resigned as CEO and chairman of WWE in mid-June amid an investigation into alleged misconduct, and the Journal reported at the time that he had agreed to pay $3 million to a former paralegal who said he sexually harassed her at work .

McMahon will continue to monitor WWE’s creative content during the investigation.

WWE appointed McMahon’s daughter, Stephanie, as interim CEO and Chair during the investigation into his alleged wrongdoing, though he continued to oversee the creative side of the company. The organization said at the time that it would not comment further until the investigation was completed.

McMahon has been the leader and most recognizable face in WWE for decades. When he bought what was then the World Wrestling Federation from his father in 1982, wrestling was taking place in small venues and appearing on local cable channels.

WWE matches are now held in professional sports arenas, and the organization has a sizeable following overseas. It has a broadcasting partnership with Saudi media company MBC Group.

The organization experienced a seismic transformation under McMahon with events like WrestleMania, a premium live production that draws millions of avid viewers.

Revenue last year surpassed $1 billion for the first time, and the company has signed television deals with Fox and NBCUniversal. Last month it announced a multi-year expansion of its original programming partnership with A&E.

WWE stars have become crossover sensations including Hulk Hogan, Dwayne “The Rock” Johnson, “Stone Cold” Steve Austin and John Cena.

Shares in Stamford, Connecticut-based World Wrestling Entertainment Inc. fell 2% on Friday.

https://www.king5.com/article/sports/wwe-mcmahons-hush-cash-bill-12-million/67-15af8746-980f-4df5-b4be-a7b901a1b8a7 WWE boss McMahon’s hush cash bill reportedly over $12 million

Emma Bowman

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