WWE's Vince McMahon Subject Of Search Warrant & Subpoena

Today's quarterly SEC filings from WWE saw it revealed that Vince McMahon was the subject of a search warrant and grand jury subpoena last month.

As per this filing, the search warrant and subpoena took place on 17 July, and no subsequent charges have been brought against McMahon. There are no details on what was being searched for.

As previously disclosed on June 17, 2022, a Special Committee of the Board of Directors was formed on June 15, 2022 to investigate allegations of misconduct by Vince McMahon. As previously disclosed, the Special Committee investigation was completed during the fourth quarter of 2022. However, related government investigations remain ongoing.On July 17, 2023, federal law enforcement agents executed a search warrant and served a federal grand jury subpoena on Mr. McMahon. No charges have been brought in these 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.Fully consistent with prior expectations, the Company and Endeavor expect their transaction to be closed in the second half of 2023.

When asked about this during today's investor call, WWE CEO Nick Khan said the company would fully cooperate with any investigation, but also gave a "no comment" where it pertains to any legal matters.

As of 21 July, Vince McMahon has been on medical leave after undergoing spinal surgery. Today saw it noted how McMahon would be on leave "until further notice", though it was mentioned how he will be remaining in place as WWE Executive Chairman.

On this matter, Vince released the following statement to CNBC:

“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 of wrongdoing.”

In addition to this, WrestleVotes has been able to get hold of a statement McMahon sent out to WWE employees in regards to this latest development.

Below is a statement from Vince McMahon sent internally to WWE employees this morning with a quote regarding the news of law enforcement agents executing a search warrant. pic.twitter.com/8rCQbn7oYA

— WrestleVotes (@WrestleVotes) August 2, 2023

Of course, Vince McMahon was forced to retire in disgrace in July 2022 after a Wall Street Journal investigation noted how McMahon had paid "hush money" to several parties in response to sexual misconduct claims.

This January saw Vince strong-arm himself into a return to WWE, with him overseeing the sale of 51% of the company to Endeavor back in April.