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WWE board investigates secret $3 million hush price by CEO Vince McMahon, picture says

Vince McMahon attends a press convention at MetLife Stadium on February 16, 2012 in East Rutherford, Original Jersey.

Michael N. Todaro | Getty Photos

World Wrestling Entertainment‘s board is investigating a $3 million hush-money settlement that CEO Vince McMahon paid a lady over an alleged affair, The Wall Road Journal reported Wednesday, citing paperwork and of us mindful of the topic.

The settlement, which became struck in January, is intended to prevent the girl, who had labored as a paralegal for the corporate, from discussing her relationship with McMahon or making considerable statements relating to the executive executive, the Journal added.

A WWE spokesman told the newspaper that the corporate is cooperating with the board’s investigation and that the relationship between McMahon and the girl became consensual.

McMahon, 76, is married to Linda McMahon, who served as CEO of WWE and as Shrimp Industry Administration chief in the administration of extinct President Donald Trump, who’s a WWE Hall of Famer.

The picture acknowledged the board’s investigation, which began in April, also revealed nondisclosure pacts related to misconduct claims from diversified ladies individuals who had labored at WWE. These agreements involved McMahon and WWE expertise executive John Laurinaitis, who wrestled below the name Johnny Ace, the Journal added.

WWE did not straight away answer to a query for commentary from CNBC.

The board retained Simpson Thacher & Bartlett LLP, a Original York-essentially based totally legislation firm, to behavior the investigation, a offer told the Journal. The firm did not straight away answer to a query for commentary from CNBC.

McMahon’s attorney, Jerry McDevitt, became no longer straight away on hand for commentary. McDevitt told the Journal that the extinct employee did not attach any harassment claims against McMahon. He also acknowledged that WWE did not pay her any money, the paper acknowledged.

The information comes at a pivotal time for the wrestling-entertainment company. In Can also, executive Stephanie McMahon, the daughter of Vince and Linda McMahon, took a proceed of absence from most of her responsibilities on the corporate. “WWE is a lifelong legacy for me and I secret agent forward to returning to the corporate that I relish after taking this time to focal level on my family,” she tweeted on the time.

WWE has also been the sector of hypothesis over a likely sale and its media rights. It has offers with Fox, USA Community, Hulu and NBCUniversal’s Peacock streaming carrier. The Hulu deal expires this year.

The company is publicly traded, but McMahon owns the majority of WWE’s voting shares. He took over the corporate from his father, also named Vince McMahon, in 1982. Below the youthful McMahon’s oversight, the WWE, then diagnosed as the World Wrestling Federation, became a world juggernaut. Within the a long time since, the corporate has spawned superstars equivalent to Hulk Hogan, Bret “The Hitman” Hart, Dwayne “The Rock” Johnson and Dave Bautista.

This is noteworthy from McMahon’s first brush with controversy. In 1993, he became indicted on federal costs related to anabolic steroids, which he and plenty of other expert wrestlers in the WWF come by used. He became acquitted of the costs in 1994. McMahon and the corporate also came below fire in 1999 for persevering with some degree out after movie smartly-known particular person Owen Hart, a brother of Bret’s, fell to his loss of life from an arena’s rafters while staging a stunt. The company at remaining agreed to pay the Hart family $18 million over the wrestler’s loss of life.

Be taught the stout Wall Road Journal picture here.

Disclosure: NBCUniversal is the guardian company of CNBC.

— CNBC’s Candice Choi contributed to this picture.

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