Federal Government Inquiries May Lead to Vince McMahon’s Departure from WWE

Vince McMahon’s Role as TKO Group Holdings Director Could Face Uncertainty

A profile in the Los Angeles Times has brought to light the possibility that Vince McMahon might eventually find himself compelled to step down as a director of TKO Group Holdings, the parent company overseeing WWE and UFC. McMahon presently holds the position of Executive Chairman of the Board at TKO Group Holdings, a role he assumed following the finalization of the WWE-UFC merger on September 12.

This merger unfolded amidst ongoing federal government inquiries into payments made by McMahon that were not appropriately documented in WWE’s annual financial reports. Jacob Frenkel, Chair of Dickinson Wright’s Government Investigations & Securities Enforcement Practice Group and a former senior counsel in the SEC’s Division of Enforcement, expressed to the LA Times that McMahon could face potential criminal or civil liabilities stemming from these investigations, which could preclude him from serving as a director of a public company.

It’s worth noting that McMahon has allegedly disbursed at least $14.6 million to multiple women, including former WWE personnel, in an effort to suppress allegations of sexual misconduct and infidelity dating back to 2006. Additionally, $5 million was reportedly paid to the Donald Trump Foundation in connection with WWE TV appearances made by Trump in 2007 and 2009.

Federal law enforcement actions came into play when a search warrant was executed, and a federal grand jury subpoena was served to McMahon on July 17. As of now, no charges have been filed against the 78-year-old.

In August, McMahon released a statement to WWE employees addressing the subpoena, expressing his belief that the government investigations would ultimately conclude without any findings of wrongdoing.

Photo Credit: WWE/TKO

Published by One Stop Wrestling

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