Professional wrestling honcho Vince McMahon was hit with a federal subpoena and a search warrant in connection to allegations the World Wrestling Entertainment (WWE) founder paid millions of dollars to silence sexual misconduct claims.
WWE confirmed Wednesday that its investigation into claims involving the 77-year-old entrepreneur concluded at the close of 2022, while feds continue looking into the matter.
“On July 17, 2023, federal law enforcement agents executed a search warrant and served a federal grand jury subpoena on Mr. McMahon,” the WWE verified in an SEC filing. “No charges have been brought in these investigations.”
WWE said it has “received voluntary and compulsory legal demands for documents” from federal regulators and law enforcement regarding allegations involving McMahon. The sports entertainment brand does not expect the investigation to impact its $21 billion merger with Endeavor Group Holdings, which operates the mixed martial arts company Ultimate Fighting Championship.
WWE also announced Wednesday McMahon was on a medical leave that began July 21 following spinal surgery, but planned to resume his duties as his company’s executive chairman.
McMahon said in April he would maintain that role after the merger, making his newly upgraded brand an “entertainment powerhouse with a collective fan base of more than a billion people and an exciting growth opportunity.”
The businessman and notorious hype-artist said in June 2022 he was stepping away from WWE.
“At 77, time for me to retire,” McMahon tweeted. “Thank you, WWE Universe. Then. Now. Forever. Together.”
He soon after stepped down as the company’s CEO, handing the reins to his daughter Stephanie McMahon, amid an internal investigation that discovered he paid $12 million in hush money to several women who accused him of misconduct.
However, in January, still a majority stock owner, the company founder wrestled control of WWE away from his daughter and put himself back in charge.
“Thank you for everything,” Stephanie McMahon tweeted after agreeing to step aside. “Then. Now. Forever. Together.”
WWE said McMahon agreed to reimburse the company millions of dollars for “reasonable costs” connected to its investigation into the allegations against him. CNBC reports it’s unclear if McMahon’s debt to WWE will increase as feds continue their inquiry.
“We believe this is a continuation of the investigation that commenced last summer,” WWE said in a statement to the Daily News. “WWE has cooperated throughout and fully understands and respects the government’s need for a complete process.”
The company also sent a statement from McMahon in which he denied “intentional wrongdoing,” reiterated he’s already been subject to an independent internal investigation at WWE and stated confidence feds would also absolve him of impropriety.
“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 said.
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