Vince McMahon To Reimburse WWE $17 Million Over Costs Of Investigation Into Him

Vince McMahon will pay back $17.4 million that WWE spent during its investigation into him on allegations of sexual misconduct. PWInsider reports that WWE issued a filing with the SEC which noted that McMcahon has entered into an agreement to pay the company for the costs incurred in the investigation.

The investigation, which was into hush payments that McMahon allegedly made to cover up sexual harassment and affairs, led to McMahon retiring from WWE in July of last year. He made his return to the WWE Board of Directors in January to explore a potential sale or other strategic options.

The statement from WWE filed with the SEC reads:

On March 20, 2023, World Wrestling Entertainment, Inc. (the “Company”) entered into a reimbursement agreement (the “Agreement”) with Vincent K. McMahon, the Company’s Executive Chairman, director and controlling stockholder. The Agreement provides that Mr. McMahon will pay the Company approximately $17.4 million to reimburse the Company for the costs that have been incurred and paid by the Company and/or its subsidiaries, through January 31, 2023, in connection with and/or arising from the investigation conducted by a special committee of the Company’s board of directors, related revisions to the Company’s financial statements and other related matters. Such payment was made on March 23, 2023.

The Agreement further provides that Mr. McMahon will also review in good faith and reimburse the Company for additional costs incurred by the Company and/or its subsidiaries subsequent to January 31, 2023 (or that have been incurred by the Company and/or its subsidiaries and not yet paid as of January 31, 2023), in connection with and/or arising from the same matters.

The Agreement also includes a release of Mr. McMahon by the Company regarding the recovery of the costs described above and a release of the Company by Mr. McMahon regarding the investigation and related matters described above.