Vince McMahon's Alleged Misconduct Investigation Cost WWE How Much?!

WWE's Special Committee investigation into former Chairman and CEO Vince McMahon's alleged misconduct is over - at the cost of $19.4 million in expenses.

This was the big story to emerge yesterday, when WWE issued its financial reports for Q3 2022. An SEC filing indicated that the Special Committee had been disbanded following the investigation's completion. Now, WWE "Management is working with the Board of Directors to implement the recommendations of the Special Committee related to the investigation."

From the SEC filing, with the numbers in 000's:-

Corporate Adjusted OIBDA for the three and nine months ended September 30, 2022 includes professional fees and severance expenses of $17,684 and $19,382, respectively, associated with the investigation by the Special Committee of independent members of the Company’s Board of Directors.

The $19.4 million figure may be separate from the $19.6 million in unrecorded payments McMahon is alleged to have paid out during his tenure. In August, when reporting its Q2 2022 financials, WWE stated the possibility of costs associated with the investigation exceeding initial projections of $10 million.

McMahon's resignation, though initially stated as a "retirement", came in July 2022. Leaving WWE in disgrace, he is alleged to have paid around $15 million in "hush money" to suppress allegations of sexual misconduct between 2006 and 2022. Uncovering these unrecorded payments has necessitated WWE making adjustments to prior financial reports.