Entertainment
Vince McMahon ‘planning WWE comeback’ months after retirement amid sexual misconduct allegations-Alistair McGeorge-Entertainment – Metro
The former chairman and CEO stepped down over the summer.
Vince McMahon reportedly told people he ‘received bad advice’ (Picture: WWE)
Vince McMahon has reportedly told people he intends to ‘make a comeback at WWE’ months after retiring amid an investigation into misconduct allegations.
The 77-year-old businessman, who remains majority owner of the sports entertainment giant, stepped down from his roles as CEO and chairman in July after the Wall Street Journal reported McMahon had allegedly paid millions of dollars in hush money to multiple women following alleged affairs and sexual misconduct.
In a new report, the outlet alleges that McMahon has told people of his apparent intention to ‘make a comeback’.
In its article the WSJ writes that, according ‘people familiar with his comments’: ‘He has said that he received bad advice from people close to him to step down and that he now believes the allegations and investigations would have blown over had he stayed.’
The new report also claims McMahon is facing legal demands from two women alleging he sexually assaulted them three decades ago and in 2011, respectively.
It’s said McMahon has told people he is refusing to pay settlements, while WWE’s auditor Deloitte and Touche LLP is said to have advised the company that any resolution of the claims – even if done confidentially – may need to be disclosed in according with company policy.
Mr. McMahon announced his retirement over the summer (Picture: Ethan Miller/Getty Images)
Last month, WWE’s Board of Directors has completed its investigation into McMahon’s alleged misconduct.
The Special Committee – which was established to investigate allegations against the now-former chairman and CEO along with another executive – said it would now make ‘recommendations’ based on its findings.
In a statement following its 2022 third quarter earnings report on November 2 , WWE said: ‘As previously announced, a Special Committee of independent members of the Board of Directors was formed to investigate alleged misconduct by Vincent K. McMahon, the Company’s former Chairman and Chief Executive Officer, who resigned from all positions held with the Company on July 22, 2022 but remains a stockholder with a controlling interest, and another executive, who is also no longer with the Company.
‘The Special Committee investigation is now complete and the Special Committee has been disbanded.
Paul ‘Triple H’ Levesque has been charge of WWE’s creative direction since McMahon’s retirement (Picture: WWE)
‘Management is working with the Board to implement the recommendations of the Special Committee related to the investigation.’
The company also revealed the financial ‘impact’ of the investigation.
The statement continued: ‘For the three and nine-month periods ended September 30, 2022, the Company’s consolidated pre-tax results include the impact of $17.7 million and $19.4 million, respectively, associated with certain costs related to the investigation.’
Speaking after his retirement over summer, McMahon said: ‘I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan.
‘As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years.’
As well as Stephanie and Nick’s new roles, WWE later promoted Triple H – whose real name is Paul Levesque – to Chief Content Officer, while he also took over the company’s full creative direction.
Metro.co.uk has contacted Vince McMahon’s attorney Jerry McDevitt and a WWE representative WWE for comment.
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