Nearly three years after the WWE investigated alleged hush money payments made by former CEO Vince McMahon, part of the saga is coming to an end. The SEC has reached a settlement with McMahon that will put part of his legal woes to rest in what has been an ongoing saga in his life for some time.
Vince McMahon has agreed to pay administrative fees, a $400,000 civil penalty, and will reimburse the WWE $1.33 million after consenting he violated the Securities Exchange Act, according to CNBC. The resolution should end WWE's role in the situation, as it will now account for the mismanaged funds once reimbursed.
What Vince McMahon Had To Say About His Settlement Being Reached
Vince McMahon offered a statement to the public at the conclusion of his case with the SEC, and he seemed grateful to put this behind him. In his statement, he targeted speculation surrounding the case, and he called it "misleading" explaining:
The case is closed. Today ends nearly three years of investigation by different governmental agencies. There has been a great deal of speculation about what exactly the government was investigating and what the outcome would be. As today’s resolution shows, much of that speculation was misguided and misleading, In the end, there was never anything more to this than minor accounting errors with regard to some personal payments that I made several years ago while I was CEO of WWE. I’m thrilled that I can now put all this behind me.
The case ultimately led to Vince McMahon's first retirement from the WWE, though he later returned and was alleged to be a creative figure from the shadows. McMahon was officially ousted once again in January 2024, and he has not been involved with the company since. Triple H stepped into the role in his place, in a move that has led to great financial success for the company.
Vince McMahon Still Has Legal Issues And Controversy
While his troubles with the SEC may be concluded, Vince McMahon still has a federal case against him filed by former employee Janel Grant. Sports Illustrated reported that Grant's legal team plans to modify the lawsuit filed against McMahon, former WWE Head of Talent Relations John Laurinaitis, and WWE by the end of January. Amidst other shocking allegations of sexual misconduct, Grant's suit alleged that McMahon never paid out the full amount of their agreed-upon settlement.
Additionally, I wouldn't expect the WWE to welcome Vince McMahon into the fold. Wrestlers like John Cena and Randy Orton have admitted there's a struggle in reading the allegations and tying them to someone they respect, and legends like Mick Foley have said the same.
It's also worth noting that his legacy in pro wrestling remains controversial with fans, which was highlighted in the Netflix documentary Mr. McMahon. The former top brass of WWE issued a statement saying the documentary blended his real life with the character he played on television and that it fell short of a true portrayal of him. In any case, his history in pro wrestling remains complicated, both with wrestlers and fans.
Those who want to watch Mr. McMahon may do so with a Netflix subscription. Also, with many upcoming WWE events on the way and likely more updates about this specific situation, be sure to stay with CinemaBlend for a look at what's happening in professional wrestling.
