Former WWE CEO Vince McMahon reaches deal with SEC over undisclosed settlement agreements

The Securities and Exchange Commission says that it has settled charges against former World Wrestling Entertainment (WWE) CEO Vince McMahon over his failure to disclose to the sports entertainment company's board and others that he signed two settlement agreements worth $10.5 million US with two women in order for them not to reveal potential claims against himself and the company.

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.

McMahon already stepped down as WWE's CEO in 2022 amid an investigation into allegations that match those in the lawsuit.

The SEC said Friday that one agreement was signed in 2019 and the other in 2022. One agreement required McMahon to pay a former employee $3 million US in exchange for the former worker's agreement to not disclose her relationship with McMahon and her release of potential claims against WWE and McMahon.

The other agreement obligated McMahon to pay a former WWE independent contractor $7.5 million US in exchange for the independent contractor's agreement to not disclose her allegations against McMahon and her release of potential claims against WWE and McMahon, the SEC said.

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The commission said that by McMahon not disclosing the agreements to WWE's board, legal department, accountants, financial reporting personnel, or auditor, it circumvented WWE's system of internal accounting controls