Vince McMahon Hit With Search Warrant and Federal Grand Jury Subpoena
Vince McMahon is also taking a medical leave from WWE due to his spinal surgery.
WWE boss Vince McMahon was served with a search warrant and federal grand jury subpoena on July 17, the company announced. It stems from an ongoing investigation into allegations that McMahon paid millions of dollars over the years to women after being accused of sexual misconduct. WWE said, "No charges have been brought in these investigations." It was also announced that McMahon went on medical leave following undergoing spinal surgery.
"On July 21, 2023, Mr. McMahon went on medical leave after undergoing major spinal surgery," the company wrote, per The Hollywood Reporter. "Mr. McMahon will remain on medical leave until further notice but will remain Executive Chairman of the Company."
WWE previously said that it had received requests for documents from law enforcement and regulators and that it was cooperating with the requests. In March, McMahon reimbursed WWE $17.4 million for costs associated with the board's misconduct investigation. It's not clear how much more McMahon will have to reimburse WWE beyond the said paid amount. McMahon stepped down as CEO of WWE last year, and his daughter, Stephanie McMahon, took over with current CEO Nick Khan. But Vince McMahon returned earlier this year and was named executive chairman of WWE when the company announced its merger with UFC. The deal will officially close in the next few months.
"Given the incredible work that [Ariel Emanuel] and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we've already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders," McMahon said in a statement back in April.
"Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity. The new company will be well-positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands. I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level."