Vince McMahon Retires

[Doragon]

From WWE

"As previously announced, a Special Committee of independent members of the Company’s Board of Directors was formed to investigate alleged misconduct by the Company’s former Chairman and Chief Executive Officer, Vincent K. McMahon. The Special Committee investigation is substantially complete. Mr. McMahon resigned from all positions held with the Company on July 22, 2022 but remains a stockholder with a controlling interest. While we currently anticipate spending approximately $10 million during the remainder of the year related to this investigation, the related costs could exceed this estimate."

[Curt McGirt]

That last line... they are so pissed. Luckily he cut all those big money deals, amirite?

[The Natural]

[Doragon]

https://www.wrestlinginc.com/966998/sec-filing-cites-material-weaknesses-in-wwes-commitment-to-integrity-and-ethical-values/

[zendragon]

[John from Cincinnati]

Quote

Contributions totaling $5 million to Donald Trump’s charity in 2007 and 2009 were among $19.6 million in unrecorded company expenses Vince McMahon paid out before he stepped down from World Wrestling Entertainment Inc. amid misconduct allegations, an internal board investigation found.

In securities filings this month, WWE said that the roughly $20 million that came out of Mr. McMahon’s pocket should have been disclosed, because the transactions benefited the company he ran. While the bulk of the payments went to women who accused Mr. McMahon and another WWE executive of sexual misconduct, the company said in the filings that the $5 million was unrelated to such allegations but didn’t state its purpose.

People familiar with the board investigation said the $5 million represented charitable donations to the now-dissolved Donald J. Trump Foundation in the same two years that the then-real-estate developer made appearances at WWE televised events.

Mr. McMahon retired as chairman and CEO last month, ending his four-decade tenure as the head of the company that he and his wife, Linda McMahon, built into wrestling’s biggest business.

An attorney for WWE said the payments to Mr. Trump should have been booked as business expenses because Mr. McMahon was a principal shareholder and the payments benefited the company. He declined to say why the payments benefited WWE.

The tax returns for the Trump Foundation in 2007 and 2009 show contributions of $4 million and $1 million, respectively, from WWE. In 2007, Mr. Trump appeared on the pay-per-view event WrestleMania 23, where he shaved Mr. McMahon’s head in a bit promoted as the “Battle of the Billionaires.” He appeared in 2009 on the nationally televised “WWE Raw,” with a story line that had Mr. Trump taking over WWE before selling it back to Mr. McMahon at double the price.

In the “Battle of the Billionaires” in 2007, Mr. McMahon and Mr. Trump fought a proxy match, each represented by a professional wrestler, with the winner getting to shave the loser’s head. Mr. Trump’s wrestler won.

A person who reviewed Mr. Trump’s contract for the WrestleMania appearance said that Mr. Trump directed Mr. McMahon to send a $4 million appearance fee to Mr. Trump’s charity.

Mr. Trump had his associates review the contract to ensure that under no circumstances would Mr. McMahon be allowed to shave his head, even if Mr. Trump’s wrestler dropped dead in the ring, this person said.
 

After the event, Mr. Trump boasted that his appearance had been such a success that Mr. McMahon agreed to give him an additional $1 million, this person said.
An attorney for WWE didn’t dispute that the contributions were related to Mr. Trump’s appearances but challenged the notion that $1 million was a bonus for the success of the event.

“Mr. Trump and WWE entered into a contract whereby WWE agreed to and did pay him personally an appearance fee of $1 million,” Jerry McDevitt, the attorney, said in an email. “At the same time, the McMahons made a personal contribution to the Trump Foundation of $4 million. There was no additional fee paid to Mr. Trump, or any additional contribution to the Trump Foundation, due to the success of the event.”

Mr. Trump received a $100,000 fee for his appearance on “WWE Raw” in 2009, while “at the same time” Mr. McMahon and his wife made a $1 million donation to Mr. Trump’s foundation that year, Mr. McDevitt said.

Before the foundation’s dissolution, Mr. Trump had been known to direct his appearance fees there. Comedy Central gave the Trump Foundation $400,000 in 2011, the foundation’s tax return shows. That was the same year Mr. Trump was roasted on the cable channel by Seth MacFarlane, the creator of the television show “Family Guy.”

A spokeswoman for Paramount Media Networks, which includes Comedy Central, didn’t respond to requests for comment.
Mr. Trump’s spokespeople didn’t respond to requests for comment.

https://www.wsj.com/articles/wwes-board-finds-vince-mcmahon-paid-5-million-to-donald-trumps-charity-11660774043

IIRC, Trump receiving these payments through his "charity" has been publicly known for a long time, and the only news here is them not being reportedly properly on WWE's end. 

[The Natural]

[Nineteen]

On 8/19/2022 at 10:22 PM, The Natural said:

Okay, the picture should be Hunter doing the Hunter point at his own cardboard cut out

[nate]

10 hours ago, Nineteen said:

Okay, the picture should be Hunter doing the Hunter point at his own cardboard cut out

Or the shovel dance gif.

[The Natural]

On 8/16/2022 at 5:20 AM, The Natural said:

[The Natural]

[Shartnado]

16 hours ago, The Natural said:

I wonder if he made Cody put this one back together? "Here's some super-glue and duct-tape, get to work, and there might be a Wrestlemania title shot in it for ya!"

[The Natural]

7 hours ago, Shartnado said:

I wonder if he made Cody put this one back together? "Here's some super-glue and duct-tape, get to work, and there might be a Wrestlemania title shot in it for ya!"

[The Natural]

On 8/23/2022 at 5:17 AM, The Natural said:

[Dolfan in NYC]

Okay, that's like 6 of the same (cringe) meme in a row.   We're done here.