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Vince McMahon Retires


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4 hours ago, (BP) said:

Dunn’s next gig will be his head replacing Danhausen’s tooth jar. 

He's putting together a reel to shop around, it's made up of over 600 shots he produced and lasts 1.3 seconds.

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On my phone so I can’t link. But WSJ has another story out today. It says Vince retired because of investigations into his hush payments. His attorney who said the payments came from Vince himself spoke a little too loudly and the Fed’s said “bet.” This is really big. Don’t mess with rich people’a money.

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6 hours ago, Technico Support said:

You know the cost of their open marriage was whatever Vince paid for Linda's two failed runs in local politics.  Between those and the several million in NDAs, we need to see if there's a Guinness Book record for "Total Dollars One Person Has Spent in Pursuit of Getting Laid."

Do Flair's divorce settlements count in this category? If so... Idk man... Vince probably isn't even halfway there yet lol

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So if Vince is out and has been replaced by Stephanie does this mean that instead of promos about Vince's grapefruits we're gonna get promos about Stephanie's melons?

I'll show myself out.

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27 minutes ago, Greggulator said:

On my phone so I can’t link. But WSJ has another story out today. It says Vince retired because of investigations into his hush payments. His attorney who said the payments came from Vince himself spoke a little too loudly and the Fed’s said “bet.” This is really big. Don’t mess with rich people’a money.

“Vince arrested for securities fraud” or “WWE pays $150 million to settle charges” are all things very much on the table right now. 

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35 minutes ago, Greggulator said:

On my phone so I can’t link. But WSJ has another story out today. It says Vince retired because of investigations into his hush payments. His attorney who said the payments came from Vince himself spoke a little too loudly and the Fed’s said “bet.” This is really big. Don’t mess with rich people’a money.

I'm so glad that smug chump McDevitt talked too much shit and got caught, finally. He's another guy who thinks he's much cleverer than he actually is.

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46 minutes ago, NoFistsJustFlips said:

Do Flair's divorce settlements count in this category? If so... Idk man... Vince probably isn't even halfway there yet lol

Every time Ric marries it’s like he’s opening a reverse IRA. 

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19 minutes ago, SirSmellingtonofCascadia said:

I'm so glad that smug chump McDevitt talked too much shit and got caught, finally. He's another guy who thinks he's much cleverer than he actually is.

It went from McDevitt won't be able to save Vince to McDevitt probably cannot save himself.

1 minute ago, (BP) said:

Every time Ric marries it’s like he’s opening a reverse IRA. 

Apparently, he wasn't even married to Wendy which is weird but whatever. Maybe he learned.

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I talked a lot about this in my Ringer piece

 

https://www.theringer.com/2022/7/25/23277743/ftr-briscoes-ii-roh-death-before-dishonor-darby-allin-brody-king-best-pro-wrestling-matches

 

My guess is that this ends up with Nick Khan totally in charge, with an Anoa'i family power play of some kind. I just don't think Jared and Ivanka end up on top of the slippery pole for too long

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8 minutes ago, Dog said:

Anyone have a transcript of the new WSJ article?

 

Quote

New federal investigations into the deepening hush-money scandal enveloping World Wrestling Entertainment Inc. hastened the retirement of its chief executive, Vince McMahon, according to people familiar with the matter.


The Securities and Exchange Commission and federal prosecutors have launched inquiries into payments made by Mr. McMahon to settle allegations of sexual misconduct, the people said. The media company said Monday that it has received “regulatory, investigative and enforcement inquiries, subpoenas or demands” in connection with millions of dollars in hush-money pacts.


WWE disclosed the inquiries in a securities filing, which also said that an ongoing internal investigation had uncovered agreements by Mr. McMahon to make payments totaling $14.6 million from 2006 through 2022. WWE said Mr. McMahon “has or will pay” all the expenses personally.


The payments, first revealed by The Wall Street Journal, should have been recorded in the company’s financial statements, WWE’s filing said. The company said it expects to revise previous financial statements going back to 2019 to reflect the payments. WWE also said that an internal board investigation “expects to conclude that its internal control over financial reporting was not effective as a result of one or more material weaknesses.”


A spokesman for Mr. McMahon and the company previously said that they were cooperating with the internal investigation by the board. A spokesman for the independent directors of the WWE board declined to comment. The SEC didn’t immediately respond to a request for comment. A spokesman for the U.S. attorney’s office in Connecticut, where WWE is based, declined to comment.


The inquiries from regulators and law enforcement show how the scandal over Mr. McMahon’s personal conduct could put the company’s business interests at risk. WWE is the biggest pro-wrestling brand in the world, and has lucrative licensing deals with entertainment giants such as Fox Corp. and NBCUniversal. Fox and The Wall Street Journal share common ownership.


The company is also seeking new business internationally and in the U.S. A crucial deal with Hulu, which streams WWE’s Monday Night RAW program, is set to expire later this year. Walt Disney Co. has a majority stake in the streaming platform.

Mr. McMahon, 76 years old, announced his retirement Friday, as the internal investigation into the payment and allegations of sexual misconduct against him and another WWE executive continued.


His retirement took wrestlers, wrestling fans and current and former WWE employees by surprise. In the past, Mr. McMahon told members of the board and WWE executives that he would remain in the job until he could no longer work, according to people familiar with his comments.


Shares of WWE rose 8.4%, to $71.81 in trading Monday. Vasily Karasyov, an analyst for Cannonball Research who covers WWE, said investors were responding to the possibility of a sale, now that Mr. McMahon has retired.


“If you have a company that was created or made into what it is now by one leader, and the leader steps aside … it pretty much will always have [Wall Street] speculating that strategic options will be explored,” Mr. Karasyov said.


Mr. McMahon had temporarily stepped aside as CEO in June after a report in the Journal that he had agreed to pay a secret $3 million settlement to a former employee with whom he had allegedly had a sexual affair.


A WWE spokesman has said that Mr. McMahon’s relationship with the former employee, a paralegal, was consensual. The board also is investigating allegations that former WWE executive John Laurinaitis had a sexual relationship with the same former paralegal, according to people familiar with the inquiry. Mr. Laurinaitis didn’t respond to requests for comment.


The Journal later reported that Mr. McMahon had agreed to pay more than $12 million in hush money settlements over the previous 16 years to suppress allegations of sexual misconduct and infidelity.


Those payments went to four women, including a former wrestler to whom McMahon agreed in 2018 to pay $7.5 million after she alleged he had coerced her into performing oral sex.


The $3 million agreement with the former paralegal and the $7.5 million deal with the former wrestler both stipulated that the money be distributed to the women over a period of years instead of as a lump sum, people familiar with the matter said. Both women still have money coming to them, the people said.


WWE on Monday also forecast revenue of $328 million for the second quarter, up from $266 million a year earlier and ahead of Wall Street expectations for revenue of $311.9 million, according to FactSet. The company said it expects operating income of $70 million for the quarter. Adjusted operating income before depreciation and amortization is expected to be about $92 million, above the company’s guidance range of between $80 million and $90 million, WWE said.


With Mr. McMahon’s retirement, WWE has named Mr. McMahon’s daughter, Stephanie McMahon, and the company’s current president, Nick Khan, as co-CEOs. Ms. McMahon will serve as chairwoman.


The company also said that Ms. McMahon’s husband, Paul Levesque, better known as the wrestler Triple H, will assume all responsibilities related to WWE’s creative operations, in addition to his regular duties.

 

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I figured the fact that this was going on while WWE is actively fielding bids for the next-day streaming rights was the biggest strike in the eyes of the board.

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2 hours ago, Phil Schneider said:

I talked a lot about this in my Ringer piece

 

https://www.theringer.com/2022/7/25/23277743/ftr-briscoes-ii-roh-death-before-dishonor-darby-allin-brody-king-best-pro-wrestling-matches

 

My guess is that this ends up with Nick Khan totally in charge, with an Anoa'i family power play of some kind. I just don't think Jared and Ivanka end up on top of the slippery pole for too long

That was hilarious. "first ballot Hall of Fame carny Jeff Jarrett" especially got me, plus I never knew Jerry Jarrett had temporary control.

(Now I want to know what you thought of Wheeler Yuta vs. Daniel Garcia, because I thought that one was a lock for the article, dammit)

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1 hour ago, John from Cincinnati said:

The inquiries from regulators and law enforcement show how the scandal over Mr. McMahon’s personal conduct could put the company’s business interests at risk. WWE is the biggest pro-wrestling brand in the world, and has lucrative licensing deals with entertainment giants such as Fox Corp. and NBCUniversal. Fox and The Wall Street Journal share common ownership.

Boy, if they're still going after him... well, kudos to Real Journalism. And Full Disclosure.

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3 hours ago, (BP) said:

Every time Ric marries it’s like he’s opening a reverse IRA. 

AAG - Too Good To Be True - Reverse Mortgage Loan Commercial - YouTube

"You get the pussy now. And you get to stay in your house until you die."

 

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11 hours ago, Greggulator said:

“Vince arrested for securities fraud” or “WWE pays $150 million to settle charges” are all things very much on the table right now. 

this is like Al Capone going to prison for tax evasion 

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12 hours ago, Greggulator said:

On my phone so I can’t link. But WSJ has another story out today. It says Vince retired because of investigations into his hush payments. His attorney who said the payments came from Vince himself spoke a little too loudly and the Fed’s said “bet.” This is really big. Don’t mess with rich people’a money.

Yep.  The Bernie Madoff example.  If you're rich, you can get away with anything -- except fucking over other rich people. 

11 hours ago, Phil Schneider said:

I talked a lot about this in my Ringer piece

 

https://www.theringer.com/2022/7/25/23277743/ftr-briscoes-ii-roh-death-before-dishonor-darby-allin-brody-king-best-pro-wrestling-matches

 

My guess is that this ends up with Nick Khan totally in charge, with an Anoa'i family power play of some kind. I just don't think Jared and Ivanka end up on top of the slippery pole for too long

LOL @ Stephanie and HHH as Jared and Ivanka.  The list of parallels between Vince and his old buddy is pretty amazing. 

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5 hours ago, Technico Support said:

Yep.  The Bernie Madoff example.  If you're rich, you can get away with anything -- except fucking over other rich people. 

LOL @ Stephanie and HHH as Jared and Ivanka.  The list of parallels between Vince and his old buddy is pretty amazing. 

except one of them is afraid of needles and one of them....is very much not.

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