TKO has stated that Vince McMahon‘s involvement with their board could negatively impact their business.
WWE and UFC merged to form TKO after WWE’s deal with Endeavor officially closed in September. Vince McMahon has since served as the Executive Chairman of TKO.
In a new SEC filing, TKO wrote that, “Mr. McMahon’s membership on our Board could expose us to negative publicity and/or have other adverse financial and operational impacts on our business. His membership also may result in additional scrutiny or otherwise exacerbate the other risks described herein. Any of these outcomes could directly or indirectly have adverse financial and operational impacts on our business.” (H/t PWInsider)
Vince McMahon was previously the subject of an investigation of the WWE Board into allegations of sexual misconduct and hush money. WWE disclosed unrecorded expenses in relation to the investigation, along with additional claims that were settled by McMahon. The SEC filing noted that McMahon has made or will make the related payments personally.
Additionally, the filing stated that costs resulting from WWE’s Special Committee’s investigation are expected to continue to be significant.
WrestleZone will provide more information as it becomes available.
