Article Author:
Reuters
On Tuesday, World Wrestling Entertainment recorded additional No charges have been disclosed. A total of $19.6 million related to former Chief Executive Officer Vince McMahon.
His two additional payments totaling $5 million in 2007 and 2009 were unrelated to the WWE Board of Directors' investigation into allegations of wrongdoing. Yes, the company said in a regulatory filing.
The investigation is still ongoing, according to the wrestling entertainment company.
``The firm has evaluated unrecorded costs and determined that such amounts should be recorded as costs each time it becomes probable and estimable.'' WWE said in a filing. All payments classified as "unrecorded expenses" were or will be paid personally by McMahon.
Last month, the company announced it would restate its financial statements for the years ended 2019, 2020, 2021 and the first quarter of 2022.
McMahon, 76, will step down as his CEO and chairman of the company in about a month due to an investigation into alleged wrongdoing, he said in July.
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