WWE Finds More “Unrecorded Expenses” By Vince McMahon For A Total Near $20M

world Wrestling Entertainment Said on Tuesday independent board inquiry of former CEO Vince McMahon An additional unrecorded payment of $5 million was shown, bringing the total to $19.6 million.

McMahon resigns from all positions WWE The news came on July 22 and the company admitted they were investigating women for misconduct and subsequent payment. He remains a shareholder with a controlling interest in the company.

Last month, WWE noted in an SEC filing today, it determined that McMahon made certain payments (including amounts paid and future dues totaling $14.6 million) from 2006 to 2022 “on the company’s consolidated financial statements.” Since then, it has also found two additional payments totaling $5 million unrelated to the allegations that led to a special committee inquiry, which McMahon called in 2007 and 2009. and which should have been recorded in the consolidated financial statements of the company.

It said the probe by its special committee was on. “It is expected to conclude that its disclosure controls and procedures over financial reporting and internal controls were not effective as a result of one or more material vulnerabilities,” the company said.

The payout is a financial issue, as the amount spread over time was not “material in any individual period,” the aggregate reported when WWE plans to do so for the June quarter. It said it is not sure when it will file those numbers as it revises its earnings and outlook.

The company said it has also received — and may in the future receive — “regulatory, investigative and enforcement inquiries, summons or demands arising out of, or in connection with, these matters.”