Vince McMahon was entailed in a controversial matter. The Wall Street Journal recently unveiled that WWE is investigating a secret $3 million settlement paid to a former employee of Mr. McMahon. The probe has also scooped several claims of misconduct from former employees toward The Chairman and top executive John Laurinaitis. It is not known which member leaked the story. There are twelve people on the board. Dave Meltzer discussed the source of the leak on the latest Wrestling Observer Radio. Dave was not sure who might have released the information. Vince has also stepped down from his positions of CEO and Chairman.
Vince McMahon reaches settlement with XFL
Now, in quite an interesting development from the Sports Business Journal,McMahon reached a settlement with former XFL commissioner Oliver Luck. The former commissioner previously filed a lawsuit against McMahon’s Alpha Entertainment after claiming McMahon had made a ‘personal guarantee’ payment to him.
While it was thought the two parties were set for an early July trial date, it appears both have agreed to settle. Now McMahon won’t have to worry about whatever coming out in court that he migth not want made public. McMahon’s biggest defense was that Luck used his company cell phone for personal reasons. The XFL filed for chapter 11 bankruptcy in April 2020. However, former WWE superstar Dwayne ‘The Rock’ Johnson and his manager Dani Garcia agreed to purchase the XFL for roughly $15 million.
WWE recently confirmed in a press release that Vince McMahon stepped down from the positions of Chairman and CEO. It was shortly announced that he would be making an appearance on the latest edition of SmackDown to address his absence. It was previously noted that he tore the SmackDown script. WWE Smackdown kicked off with Vince McMahon coming to the ring to address the fans in a brief segment. He also recently made an appearance on the latest edition of Monday Night RAW.