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WWE CEO and Chairman Vince McMahon has “voluntarily resigned” from his roles in the company amid an investigation into an alleged affair and pay with a WWE employee, according to the Wall Street Journal. Here’s all we know about McMahon’s ongoing investigation so far.
What are the charges?
McMahon is accused of having an affair with a former WWE aide and paying her $ 3 million as part of a January separation deal that also barred her from discussing or downplaying her relationship with him, according to the Wall Street Journal.
An internal audit issued by a special WWE commission reportedly found that McMahon had issued similar non-disclosure agreements with other former WWE employees, alleging misconduct by both McMahon and the WWE Talent Relations Manager. John Laurinatis, according to a WSJ report.
WWE board members reportedly launched an investigation against McMahon in April after learning of the CEO’s alleged misconduct through anonymous emails sent to the company by someone who claimed to be friends with the former WWE aide.
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What does this mean for the storylines?
According to a joint press release from the WWE Board of Directors, McMahon will retain his “role and responsibilities” with regard to creative storylines while under investigation.
And what does this mean for the company?
It is unclear whether McMahon will resume as CEO or chairman. For now, his daughter Stephanie McMahon will be interim CEO and chairman of the company. It is possible that she will take over if her father retires permanently.
Paul “Triple H” Levesque, who is the husband of Stephanie, a former WWE superstar and executive vice president of global strategy and talent development, may be recruited to run the company instead of Vince, although his health may be hampered. As early as September, Levesque suffered from heart failure, which forced his retirement in the ring, according to ESPN. The Wrestling Observer also reported that Levesque has since returned to full-time work in WWE offices, recruiting new fighters after recovering from health problems.
Shane McMahon, Vince’s son, could also potentially take over as CEO, given his previous experience in reserving anti-WWE programs and his rival WCW from Monday Night’s Wars, although his chances are slim. low after his release from the company in February, after Royal Rumble paid to watch, according to Sports Illustrated.
Fans and the media have speculated that the recent mass release of WWE wrestlers may signal the company’s plan to eventually sell. Although Nick Hahn, president of WWE and chief revenue officer, denied the rumors. Khan said WWE was “not in active talks” or “actively seeking to sell,” according to the Bleacher Report.
WWE has been tried or investigated before?
In 1994, Vince McMahon was accused of supplying illicit drugs to improve efficiency by the U.S. Attorney’s Office for the Eastern District of New York. Jurors found McMahon not guilty.
In 1999, Martha Hart, the wife of the late Owen Hart, sued WWE (then the World Wrestling Federation) for wrongful death after the wrestler fell to his death when his grapple belt broke as he entered the beams. to the ring. in Over the Edge pay-per-view. Controversial, the company decided to continue the event while Hart was evacuated from Kemper’s arena at Truman Medical Center, where he died of blunt force injuries and internal bleeding. WWE released a $ 18 million deal in March 2000, which it used to form the non-profit charity Owen Hart Foundation.
In 2002, the UK Court of Appeals ruled in favor of the World Wildlife Foundation, which is suing the then-World Wrestling Federation for breach of the 1994 agreement with the organization, which banned the wrestling company from using the WWF acronym , according to CNET. This decision prompted the company to change its name to World Wrestling Entertainment.
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