Ex-WWE Kingpin Vince McMahon Reaches Deal With SEC Over Undisclosed Settlement Agreements

Vince McMahon has become one of the most disputed personalities. One of the geniuses behind WWE's evolution, Vinny Mac went beyond the traditional barriers to make wrestling a global phenomenon. However, with time, some of Vince's controversies came to light. Recently, the SEC has announced that they have settled charged against the former WWE chairman after he agreed to pay a hefty fine.  

Vince McMahon Settles Undisclosed Settlement Agreements After Reaching Deal With SEC

Former WWE CEO Vince McMahon signed two settlement agreements worth $10.5 million with two women to prevent them from disclosing potential claims against him and WWE, according to the Securities and Exchange Commission. It has settled charges against him for failing to disclose this information to the board and others. One deal was signed in 2019 and another in 2022, the SEC said on Friday. In one deal, McMahon had to give a former employee $3 million in return for her agreeing to keep her relationship with McMahon a secret and to release any potential lawsuits she might have against McMahon and WWE.

Following the decision, Vince McMahon put out a statement, claiming that the probe was nothing more than a few small accounting errors and that most of the conjecture surrounding it was false and misinformed. The former WWE  CEO expressed his relief at putting the past behind him.

“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 statement from Vince McMahon said on 'X' [Formerly Twitter].

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Who Is Vince McMahon? Former WWE CEO Who Revolutionized Professional Wrestling

Vince McMahon was the leader and most recognizable face at WWE for decades. When he purchased what was then the World Wrestling Federation from his father in 1982, wrestling matches took place at small venues and appeared on local cable channels. 

McMahon resigned from WWE’s parent company in January 2024 after a former employee filed a federal lawsuit accusing him and another former executive of serious sexual misconduct. At the time, McMahon stepped down from his position as executive chairman of the board of directors at WWE’s parent company, TKO Group Holdings. He continued to deny wrongdoing following the filing of the lawsuit.

Also Read: WWE HOFer Hulk Hogan Gets Thoroughly Booed At RAW's Premiere On Netflix: What Stoked Such A Reaction?

[With AP Inputs]