File photo of World Wrestling Entertainment owner Vince McMahon in New York
BENGALURU: World Wrestling Entertainment Inc (WWE) says executive chairman Vincent McMahon has paid US$17.4mil (RM77mil) to the company to cover costs related to an investigation into his alleged misconduct.
McMahon, credited with transforming WWE from a regional player to a global giant, retired as CEO and chairman of the company in July last year. He returned to the board in January, after the probe was wrapped up.
The Wall Street Journal had reported that he was being investigated by the board for agreements to pay US$12mil (RM53mil) over the past 16 years to suppress allegations of sexual misconduct and infidelity.
WWE said in January that it would explore strategic alternatives. McMahon said he would involve himself in the company’s media rights acquisition process as it looks to capitalise on growing demand for content and live entertainment. — Reuters
