The WWE Board of Directors probes Chairman Vince McMahon about an alleged secret 3 million dollar settlement with a former employee.
The Wall Street Journal Joe Palazzolo and Ted Mann report that McMahon allegedly gave money to the former employee with whom he had an affair last year. However, the company has said that the relationship was consensual and will cooperate with the investigation. According to the report, the information was leaked to board members from someone close to the employee, who will look into the matter. The identity of the former employee was not revealed and it’s revealed that the she signed a non-disclosure agreement.
“…The board of World Wrestling Entertainment Inc. is investigating a secret $3 million settlement that longtime chief executive Vince McMahon agreed to pay to a departing employee with whom he allegedly had an affair, according to documents and people familiar with the board inquiry.
The January 2022 separation agreement bars the now-former employee, who was hired as a paralegal in 2019, from discussing her relationship with Mr. McMahon or disparaging him,” said the report(h/t Joe Palazzolo and Ted Mann).
More on Vince’s Settlement with Former Employee
According to the WSJ, the former employee was said to have “fallen on hard times” before coming into the company. She had a law degree but couldn’t take the bar exam because she focused on caring for a sick parent. Upon getting hired by WWE, her salary was $100,000. However, the report reveals that it increased to $200,000 after she began a sexual relationship with McMahon.
The friend of the former employee also alleged that General Manager of Talent Relations John Laurinaitis also got involved with her and said McMahon “Gave her like a toy.” WSJ shared that the WWE Board of Directors received a copy of the 3 million dollar agreement from McMahon’s lawyers on Jun. 12. According to WSJ, the former employee had an “…Upfront payment of $1 million.” She would receive the other 2 million dollars over five years based on the deal.
WWE has released a statement responding to the report. Wrestlenomics Brandon Thurston transcribed the statement.
“The Wall Street Journal has published a report about WWE with allegations that we and our Board of Directors take seriously. We are cooperating fully with the independent investigation initiated by our Board of Directors(h/t Brandon Thurston).
We will provide more updates on the story as more information is released.
