Why is Vince McMahon being investigated by the WWE board?
So for today’s wrestling news lets lay down the facts as to why Vince McMahon is under fire today i.e. being investigated by the WWE board.
For this post, let’s keep it simple and understandable and take note that these are all the collected information that has been released online since the news broke out.
So Why is Vince McMahon being investigated by the WWE board?
Apparently the CEO of WWE has used funds that aren’t his (belonging to the company and its investors) to do a settlement. This news was revealed and published by the Wall Street Journal. In the post, the sources say that McMahon used investor money amounting to 3 million dollars to keep a paralegal he had an affair with around 2019 from going public.
Basically whoever that paralegal is, was paid 3 million to keep quiet for a long time. She can’t say anything about the alleged affair because that could bring down the house that McMahon built or tarnish the reputation of the WWE to some extent.
Why is this a big deal?
Because that money’s not his to use to shut people up. This was money “borrowed” from investors including those that trade WWE stocks (since its a publicly traded company).
Why is John John Laurinaitis involved?
Apparently the WWE board also discovered other NDA agreements that were “paid off” which we can only assume would be other WWE employees who could have filed misconduct charges not just against McMahon but also Head of talent relations John John Laurinaitis.
If he’s the boss why is he under fire?
Remember they are a publicly traded company. They answer to board members who are looking for their own interests with the company. This is different from decades ago when McMahon truly is king of the WWE and nobody can tell him what to do, question him or call him out.
As of writing this little explainer piece, its also been revealed that the entire WWE office has confirmed cooperation with the WWE Board investigation.
The @WWE board is investigating a secret $3 million hush pact that longtime CEO Vince McMahon reached with an ex-employee with whom he allegedly had an affair, and whose salary doubled after the sexual relationship began https://t.co/BdiwpwfCEC via @joe_palazzolo + Ted Mann
— JamesVGrimaldi (@JamesVGrimaldi) June 15, 2022