WWE reveal Vince McMahon paid extra $5m in ‘unrecorded expenses’ – totalling $19.6 MILLION – amid hush money accusations

WWE have revealed that former chairman Vince McMahon paid another $5million (£4.1m) in “unrecorded expenses”.

McMahon retired from WWE shortly after recent allegations claiming he paid hush money to several women who have alleged sexual misconduct between 2006 and 2022.

The wrestling giants confirmed last month in an SEC filing that a sum of “unrecorded expenses” totaling up to $14.6m (£12.15m) does exist and that they will revise previous financial statements to reflect the expenditures.

It is not yet confirmed what the unrecorded expenses relate to but the sum has risen to $19.6m (£16.2m).

The extra $5m ris made up of two additional payments made in 2007 and 2009.

WWE announced in a lengthy statement: “On July 25, 2022, the Company announced that it has made a preliminary determination that certain payments that Vince McMahon agreed to make during the period from 2006 through 2022 (including amounts paid and payable in the future totaling $14.6 million) were not appropriately recorded as expenses in the Company’s consolidated financial statements.

“Since that time, the Company has determined that two additional payments totaling $5.0 million, unrelated to the allegations that led to the Special Committee investigation, that Mr. McMahon made in 2007 and 2009 should have been recorded in the Company’s consolidated financial statements.

“Together, these unrecorded expenses total $19.6 million (the “Unrecorded Expenses”).

“The Company has evaluated the Unrecorded Expenses and has determined that such amounts should have been recorded as expenses in each of the periods in which they became probable and estimable.

“All payments underlying the Unrecorded Expenses were or will be paid by Mr. McMahon personally. The Special Committee investigation remains ongoing.”

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McMahon last month after the allegations became public but apparently remains the company’s majority shareholder.

The 76-year-old has been succeeded by his daughter Stephanie who is now in charge as Chairwoman and co-CEO alongside co-CEO Nick Khan.

Her husband and wrestling legend Triple H has replaced the American businessman as head of creative.

McMahon had been in charge of WWE since 1982 when he acquired the company from his father Vince Sr.