Last month, federal law enforcement agents carried out a search warrant at the property of Vince McMahon, the head of World Wrestling Entertainment (WWE). McMahon was also served with a federal grand jury subpoena, the company revealed on Wednesday.
This amid an ongoing investigation centered on allegations that McMahon paid substantial sums of money to women over the years following accusations of sexual misconduct.
WWE says that McMahon had taken a medical leave due to undergoing major spinal surgery. His leave commenced on July 21, and although he will remain on medical leave until further notice, he will continue to serve as the Executive Chairman of WWE.
WWE stated that it believes the subpoena and search warrant are part of a continuation of an investigation that started last summer. The company says they have been cooperating fully throughout the process.
In a separate statement to CNBC, McMahon asserted his denial of any wrongdoing and expressed confidence that the government’s investigation would ultimately clear him of any findings of misconduct.
In other news, in April, WWE reached an agreement to merge with its rival, UFC, forming a new publicly traded company controlled by Endeavor Group. Both WWE and Endeavor anticipate finalizing the deal in the second half of this year, as mentioned in Wednesday’s announcement.
The search warrant and subpoena on July 17 were issued precisely one year after the initial news broke out about the federal prosecutors and the SEC investigating WWE and McMahon regarding the alleged payments to women.
