Vince McMahon Issues Internal WWE Statement Over Search Warrant & Grand Jury Subpoena
Vince McMahon comments on the investigations into his conduct
Vince McMahon found himself at the centre of legal issues this week as it was revealed in WWE's Q2 2023 financial results that federal law enforcement agents had executed a search warrant and served a federal grand jury subpoena to the WWE Executive Chairman on July 17. No charges have been filed against McMahon.
McMahon has since issued a statement to WWE employees about the search warrant and subpoena, stating that he believes the United States Government's investigation "will be resolved without any finds of wrongdoing."
"In 2022, WWE formed a special committee to review allegations of misconduct against me. That review was concluded in November 2022 following an extensive investigation. Throughout this experience, I have always denied any intentional wrongdoing and continue to do so. I am confident that the government's investigation will be resolved without any findings of wrongdoing. I am focused on completing the recovery process from my recent spinal surgery and on closing our transaction with Endeavor, which will create one of the preeminent global sports and entertainment brands," McMahon wrote.
WWE also stated: "We believe this is a continuation of the investigation that commenced last summer. WWE has cooperated throughout and fully understands and respects the government's need for a complete process."
Nick Khan refused to comment on the matter during the Q2 2023 investor's call beyond that WWE would continue to fully cooperate with any investigation.
Federal prosecutors and the SEC opened investigations in the summer of 2022 into payments made by Vince McMahon over several years of up to $19.6 million. The payments were allegedly made to suppress allegations of sexual misconduct and infidelity, while McMahon also made payments in 2007 and 2009 to the Donald Trump Foundation in connection with the former United States President's appearances on WWE TV. The payments were not listed as expenses within WWE's annual accounts which prompted the government's investigations.
McMahon resigned as WWE CEO and Chairman in July 2022 due to the government's investigations. He then forced his way back into WWE in January 2023, being elected Executive Chairman. He agreed a deal to sell WWE to Endeavor in April and the WWE-UFC merger will be completed before the end of the year.
Vince McMahon is currently on medical leave from WWE following spinal surgery on July 21.
H/T to Wrestlenomics