In a further step toward reclaiming his World Wrestling Entertainment (WWE) empire, executive chairman Vince McMahon has filed new documents with the SEC.
In the paperwork, McMahon said he will reimburse the publicly traded company $17.4 million for its costs related to a board committee investigation into allegations of his sexual misconduct. The filing was made Thursday and covers a period through Jan. 31 of this year. McMahon has also vowed that he will cover any additional costs after that date.
McMahon returned to the board after resigning last July over allegations of sexual misconduct and infidelity first reported by the Wall St. Journal. The company allegedly made payments totaling $12 million over a period of 16 years to various people.
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The brash McMahon stepped down from the organization when the allegations surfaced, but recently made a controversial return, one that’s drawn criticism from his board and shareholders, among others.
The WWE is now exploring various rights deals, including a potential outright sale of the company.
Read the complete SEC filing here.
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