WWE revealed Vince McMahon made more personal payments than initially recorded.
Those unrecorded expenses now total $19.6 million, according to the sports entertainment powerhouse.
Two more payments equaling to $5 million have been found, per an SEC filing from the company. The WWE says the payments in 2007 and 2009 and are “unrelated to the allegations that led to the Special Committee investigation.”
“The company has evaluated the unrecorded expenses and has determined that such amounts should have been recorded as expenses in each of the periods in which they became probable and estimable,” WWE said in the filing. The document also said that all payments classified as “unrecorded expenses” were or will be paid by McMahon personally.
In July, the WWE announced it was looking back at financial statements from 2019 to account for $14.6 million dollars in specific payments McMahon made while chairman and CEO, Variety reported.
This came days after McMahon announced he was retiring from the company amid an investigation into allegations he agreed to pay $3 million in hush money to a former employee with whom he had an affair, The Wall Street Journal reported, citing documentation and sources “familiar with the board inquiry.”
McMahon used his own money, which was to be paid to the employee in increments over a five-year period, according to the report.
The investigation into McMahon remains ongoing, the wrestling entertainment company said.
Stephanie McMahon, McMahon’s daughter, and Nick Khan are currently co-CEOs of the WWE.
