The Wall Street Journal reported Wednesday that WWE is investigating an alleged $3 million payment from McMahon to an employee who left following a consensual affair.
“I have pledged my full cooperation with the special committee’s investigation, and I will do my best to support the investigation,” McMahon said in a statement prepared Friday. “I am also committed to accepting the findings and results of the investigation, whatever they may be.”
The employee, hired as a paralegal in 2019, has had a separation agreement since January that bars her from discussing her relationship with McMahon or disparaging him, the Journal reported.
The board’s investigation, which began in April, found other, older nondisclosure agreements involving allegations of former WWE employees of misconduct by McMahon and talent relations manager John Laurinaitis. in WWE, the Journal reported.
WWE is also investigating Laurinaitis’ actions.
Outside of the investigation, WWE said Friday that the company and its special committee will work with an independent third party to conduct a comprehensive review of the work environment within the organization.
Vince McMahon has been the leader and most recognizable face of WWE for decades.
When he purchased what was then the World Wrestling Federation from his father in 1982, wrestling matches were held in small venues and appeared on local cable channels.
WWE matches are now played in professional sports stadiums if the organization has a large overseas audience. It has a broadcast partnership with Saudi media company MBC Group and presents one to two live pay-per-view shows in Saudi Arabia every year.
The organization underwent a seismic transformation under McMahon with events like WrestleMania, a premium live production that draws millions of devout viewers.
Last year, revenues topped $1 billion for the first time, and the company landed television deals with Fox and NBCUniversal. Last month, it announced a multi-year expansion of its original programming partnership with A&E.
WWE stars have become crossover sensations including Hulk Hogan, Dwayne “The Rock” Johnson, “Stone Cold” Steve Austin and John Cena.
Stephanie McMahon, who will at least temporarily take over as head of WWE, announced last month that she was taking a leave most of his responsibilities within the organization. She served as the company’s Chief Brand Officer.
Her husband, Paul Levesque, who wrestled as Triple H, announced in March that he was retiring from wrestling due to heart disease. Levesque is WWE’s Executive Vice President of Strategy and Development.
“I am committed to doing everything in my power to help the special committee complete its work, including enlisting the cooperation of the entire company to help complete the investigation and bring implement its findings,” she said in a statement.
Shares of Stamford, Connecticut-based World Wrestling Entertainment Inc. fell 3% on Friday.