WWE has revealed that former chairman Vince McMahon has paid an additional $5 million (£4.1 million) in "unrecorded expenses".
McMahon claims he paid hush money to several women who accused him of sexual misconduct between 2006 and 2022. Shortly after recent allegations he retired from WWE. .
The wrestling giant confirmed with the SEC last month. There was a total of 'unrecorded costs' amounting to $14.6m (£12.15m) and we submitted to to revise our previous financial statements to reflect the expenditure.
It has yet to be confirmed what the unrecorded expenses were related to, but the sum totaled him to $19.6 million (£16.2 million).
His additional $5 million relates to a total of two additional payments made in 2007 and 2009.
WWE announced in a lengthy statement: “On July 25, 2022, we announced that certain payments that Vince McMahon agreed to make over the period 2006 through 2022, including payments totaling $14.6 million and future payments, would
"Since then, we have made a tentative determination that the expense has not been properly recorded in our consolidated financial statements.
unrelatedly determined that it was necessary to record two additional payments totaling $5 million made by Mr. McMahon in 2007 and 2009.
“These unrecorded expenses totaled $19.6 million (“Unrecorded Expenses”).
"The Company evaluated unrecorded costs and determined that such amounts should be recorded as costs. Each period in which they became probable and estimable
"All payments underlying unrecorded expenses have been or will be paid personally by Mr. McMahon. The Special Committee investigation is still ongoing."
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{ .The 76-year-old was succeeded by his daughter Stephanie, who now serves as Chairman and Co-CEO with Co-CEO Nick Kahn.
Her husband, wrestling legend Triple H, replaced the American businessman as head of the creative department.
McMahon has been in charge of WWE since buying the company from his father Vince his senior in 1982.
