Vince McMahon reimburses $17.4 million in WWE investigation costs

World Wrestling Entertainment Inc (WWE) said Friday that executive chairman Vincent McMahon paid the company $17.4 million to cover costs related to an investigation into its alleged misconduct.

McMahon, credited with transforming WWE from a regional player into a global giant, retired as CEO and chairman of the company in July last year.

He returned to the board in January, after the investigation was closed.

The Wall Street Journal had reported that he was being investigated by the board for $12 million payout deals over the past 16 years to suppress allegations of sexual misconduct and infidelity.

WWE said in January that it would explore strategic alternatives.

McMahon said he would become involved in the company’s media rights acquisition process as it seeks to capitalize on the growing demand for live content and entertainment.