9 months ago
57 Vince McMahon (R) and Donald Trump be a property league astir the WWE astatine the Austin Straubel International Airport connected June 22, 2009 successful Green Bay, Wisconsin.
Mark A. Wallenfang | Getty Images Entertainment | Getty Images
Federal instrumentality enforcement agents executed a hunt warrant connected World Wrestling Entertainment brag Vince McMahon past period and served him with a national expansive assemblage subpoena, the company disclosed Wednesday.
The actions correspond an escalation of an ongoing probe into allegations that McMahon paid millions of dollars implicit the years to women aft being accused of intersexual misconduct.
WWE besides revealed Wednesday that McMahon "went connected aesculapian permission aft undergoing large spinal surgery."
McMahon's permission began July 21, and helium volition "remain connected aesculapian permission until further announcement but volition stay Executive Chairman" of WWE, the institution said successful its quarterly report to the Securities and Exchange Commission.
The institution noted that nary charges person been filed against McMahon. CNBC has reached retired to WWE with questions astir the warrant and subpoena.
World Wrestling Entertainment Inc. Chairman Vince McMahon appears successful the ringing during the WWE Monday Night Raw amusement astatine the Thomas & Mack Center August 24, 2009 successful Las Vegas, Nevada.
Ethan Miller | Getty Images
In April, WWE agreed to merge with rival UFC to signifier a caller publically traded institution controlled by Endeavor Group.
WWE and Endeavor some expect the woody to adjacent successful the 2nd fractional of this year, WWE said Wednesday.
The hunt warrant and subpoena connected July 17 came a twelvemonth aft quality archetypal broke that national prosecutors and the SEC were investigating WWE and McMahon implicit his payments to women.
WWE noted successful the SEC filing Wednesday that it "has received voluntary and compulsory ineligible demands for documents, including from national instrumentality enforcement and regulatory agencies, concerning the probe and related taxable matters."
McMahon's woman Linda, who antecedently was CEO of WWE, served successful the Trump Cabinet arsenic head of the U.S. Small Business Administration.
McMahon's national hunt warrant and expansive assemblage subpoena were disclosed conscionable a time aft erstwhile President Donald Trump, a longtime person of McMahon's, was himself indicted by a national expansive assemblage successful Washington, D.C., connected superior felony charges related to his efforts to reverse his nonaccomplishment successful the 2020 statesmanlike election.
WWE connected Wednesday said that during the 3 and and six months ended June 30, "the Company incurred $5.3 cardinal and $7.1 million, respectively, of expenses related to costs incurred" successful transportation with a abstracted probe of McMahon's alleged misconduct conducted by a peculiar committee acceptable up by the company's board.
McMahon has agreed to reimburse WWE for "all tenable costs incurred successful connection" with the peculiar committee's work, the institution said.
"To date, Mr. McMahon has paid astir $17.4 cardinal to reimburse the Company for costs that person been incurred and paid by the Company," the filing said.
It is not wide however overmuch much McMahon volition person to reimburse WWE beyond that amount.
"As antecedently disclosed, the Special Committee probe was completed during the 4th fourth of 2022. However, related authorities investigations stay ongoing," the institution said.
