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The Wrestling World was shaken when the Vince McMahon announced his retirement about a year ago. When he retired, he left all of his positions in the WWE, including his position as the head of the creative team in the WWE.
After he retired, his daughter and son-in-law took over the company.
Vince McMahon has apparently re-imbursed the WWE and the investigation is closed
Vince retired after an investigation was launched against him by the board of directors.
This was to look into some hush money that he allegedly paid some of his former employees to stop them from speaking against him related to s*xual misconduct. An SEC filing suggests that Vince paid around 17.4 million dollars related to the s*xual misconduct allegations.
The filing was made on the 24th of March by the WWE. The filing suggests that "the costs that have been incurred and paid by the company and/or its subsidiaries, through Jan. 31, 2023, in connection with and/or arising from the investigation conducted by a special committee of the company's board of directors." WWE actually formed a special committee to look into the alleged hush money payments.
According to a report by Variety. Vince McMahon actually paid around $19.6 million as far back as 2007, to stop various women from speaking against him. Of course, these allegations could never be proven. Vince has apparently reimbursed the company and it now appears that the investigation will finally come to a close.
Of course, it can always be re-launched in the future. We also do not know whether any further action will be taken by the company or not. It appears that the company is only focused on the sale of the WWE and that is their priority right now.
Vince came out of retirement a few months ago and immediately became part of the WWE Board of Directors. He immediately fired the person that launched the investigation against him. He also fired other board members to take a great amount of control.
His returned basically to oversee the sale of the WWE. When he returned, Stephanie McMahon, his daughter and at that time the co-CEO of the company, stepped down from her position as the co-CEO of the WWE. However, we are still not clear about who the WWE will be sold to or when the sale will actually happened. According to CEO Nick Khan, the WWE is looking for a sale in the first quarter of 2023.
