Vince McMahon’s Retirement Isn’t Bringing Good News to $5 Billion Worth WWE from All Ends

The biggest news that hit the pro-wrestling world this year has added a new chapter to it, and it’s very costly. The recent buzz about WWE has been taking steam because of Triple H running things. This occurred because of Vince McMahon’s alleged hush money scandal coming to the surface. Earlier in the year, Vince McMahon stepped down as the CEO and Chairman of WWE. A thing impossible to imagine just a few months ago.

The 50-year veteran in the business also had to succumb to the realization that he won’t be booking or promoting his creations, Raw and SmackDown. Except for his shareholder position, McMahon has taken a backseat entirely. But one thing that hasn’t is the investigation into the former head of creative.

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As stated, way back when the report from the Wall Street Journal came out, WWE promised to investigate the matter. To achieve this, they announced the formation of a special committee and no stones to be left unturned. And the recent Q2 report has revealed the current cost incurred and the position of the committee as of now. One more thing, WWE revealed that they delayed the Q2 report because of taking into account the expense of this investigation.

Current situation of the special committee set to investigate Vince McMahon

WWE addressed the investigation of Vince McMahon while filing the report. It read, “As previously announced, a Special Committee of independent members of the Company’s Board of Directors (the “Special Committee”) was formed to investigate alleged misconduct by the Company’s former Chairman and Chief Executive Officer, Vincent K. McMahon. Mr. McMahon resigned from all positions held with the Company on July 22, 2022 but remains a stockholder with a controlling interest.”

“The Company has received, and may receive in the future, regulatory, investigative and enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters. The Special Committee investigation is substantially complete. In addition to the foregoing, from time to time we become a party to other lawsuits and claims. By its nature, the outcome of litigation is not known, but the Company does not currently expect this ordinary course litigation to have a material adverse effect on our financial condition, results of operations or liquidity.”

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They project that the entire investigation is going to cost the company $10 million by the end of the year. While other aspects are being appreciated, the company is spending $10 million, which won’t be recovered from Vince. While he will repay the $19 million, the time and effort going into this investigation will be extra work for WWE in the end.