WWE Rumors: Vince McMahon Sends Statement About Federal Investigation
Federal law enforcement agents executed a search warrant and served a federal grand jury subpoena on Vince McMahon on July 17, according to an SEC filing released Tuesday.
WWE released its second-quarter earnings report Tuesday, but the company’s 10-Q filing revealed a disclosure of the federal grand jury subpoena. No charges have been brought in the investigations.
“The Company has received voluntary and compulsory legal demands for documents, including from federal law enforcement and regulatory agencies, concerning the investigation and related subject matters,” the filing said.
WWE CEO Nick Khan addressed the investigation in an earnings call with analysts, where he stated the company would fully cooperate with the investigation but would not comment on legal matters, per Post Wrestling’s John Pollock.
McMahon sent an email to employees about the nature of the investigation.
“In 2022, WWE formed a special committee to review allegations of misconduct against me. That review was concluded in November 2022 following an extensive investigation. Throughout this experience, I have always denied any intentional wrongdoing and continue to do so. I am confident that the government’s investigation will be resolved without any findings or wrongdoing. I am focused on completing the recovery process from my recent spinal surgery and on closing our transaction with Endeavor, which will create one of the preeminent global sports and entertainment brands.”
WWE disclosed in a section titled “other matters” it still was for the board’s investigation into McMahon’s NDA payments to cover up alleged sexual misconduct. McMcMahon agreed to reimburse “reasonable costs” and previously paid $17.4M toward the costs.
The federal grand jury subpoena came when WWE negotiates the renewal of its media rights for “RAW” and “SmackDown.”
The 10-Q filing noted McMahon has been on medical leave since his spinal surgery Friday, but he remains executive chairman.