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Fight Me.

Vince McMahon Retires

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thats what I was thinking, if there were no scandals and allegations, ones he cant dodge or avoid this time, he would have been doing it till he dropped dead. Now its resign or else..

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10 hours ago, Saturi said:

Xia Brookside already mentioned that they are allowed to do indie shows outside of the wwe now. :)

This is something that Vince would had never allowed!

It was pretty normal for NXT UK talent to be able to before the pandemic. I saw Pete Dunne with the UK title at PROGRESS when they were here in NY lol

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Not sure what to make of this, found on reddit.

It seems that VKM has paid out at least 26m cause he couldn't keeps his pecker in place..

Quote

WWE's 8-K states the company found $14.6 million in payments by Vince McMahon *that should have been recorded as company expenses*. WWE will reissue financial statements for 2019, 2020, 2021, and Q1 2022.

➡️More detail and analysis:
https://t.co/fQZu7l0eyb

Edited by glennsoe

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I'm enjoying this process immensely. 

HHH now has full creative control. This is what we've been waiting for. 😎

 

I guess "budget cuts" were apparently just code for Vince getting his dick wet.

This dude literally fired dozens of people so he could afford to throw away $14.6 million. The more you know. ☄️

Edited by Generations

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Found on reddit

Dave Meltzer: We should have a story up on the Observer site momentarily running down the morning news from WWE. Biggest news is that Vince used company funds for $14.6 million in payments not recorded in financial statements. This is huge. He's really not coming back.

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Stephanie leading the SD crowd in a chant of "thank you, Vince" was more disturbing than the Benoit tribute show, tbh...(at least they didn't know what they were celebrating at that point). I watched the first few mins of that episode just to see what Stephanie was going to say, and I turned it off and deleted the recording when I saw that. - There are a lot of people who are complicit in defending and glorifying Vince, tbh. - Anyway...here's to a bright future with HHH leading creative. Finally something should change. Just too bad that WWE lost all of their best talents to AEW/RoH/NJPW, etc before this could happen.

Edited by Generations

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Credit:pwinsider

Please notice this phrase:

If the company is citing that the NDA-related payoffs should have been recorded as company expenditures, that means they believe at this point that McMahon was using company money for his own personal benefit.

The potential fallout for Vince McMahon, who officially retired from his WWE responsibilities and positions this past Friday just got an entire world of worse and may explain the quick farewell for McMahon on and off WWE programming last week.

WWE issued a corporate filing with the SEC this morning, announcing in short, that it has determined that Vince McMahon's payouts in the past should have been recorded as official company expenses, stating in the filing that it “has made a preliminary determination that certain payments that Vince McMahon agreed to make during the period from 2006 through 2022 (including amounts paid and payable in the future), and that were not recorded in the WWE consolidated financial statements, should have been recorded as expenses in the quarters in which those agreements were made.”

If the company is citing that the NDA-related payoffs should have been recorded as company expenditures, that means they believe at this point that McMahon was using company money for his own personal benefit.  That certainly opens the door for a lot more potential legal action against McMahon and/or the company from WWE shareholders and potentially even criminal liability.  

WWE noted they will be revising their financial statements and noted they plan to issue revised financial statements by 8/9, but “there is no assurance that it will be able to meet this deadline.”

McMahon made over 12 million dollars in payments to women he either allegedly harassed or became involved in sexual relationships with in order for their silence via NDAs, according to Wall Street Journal reporting.  They had been working on additional stories and Real Sports with Bryant Gumbel has also been preparing a potential story.  

WWE's filing today listed $14.6 million in expenses that should have been recorded, $2.6 more than reported.  WWE did not state whether the $14.6 they uncovered internally included the NDA payments.

Obviously, more to come, but this explains the quick three minute Stephanie McMahon segment on Smackdown

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More from pwinsider

In today's SEC filing, it is interesting to note that World Wrestling Entertainment described Vince McMahon's exit as a resignation, not a retirement:

On July 22, 2022, Vincent K. McMahon informed the Company and its Board of Directors (the “Board”) of his resignation from his positions as Chief Executive Officer, Chairman and director of the Company, effective immediately.

It may be that from a corporate perspective, retiring and resigning mean the exact same thing, but it is interesting to see that description used in the filing vs. the retirement that has been pronounced everywhere publicly.

For those who have asked about whether McMahon would remain on the company's Board of Directors, as I discussed on this morning's Elite audio update, he is gone from the Board as well.

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I’m very curious how the creative and presentation will change now that Vince is gone. Will there be less people losing their last or first names? Will the Vince humor stuff (like bodily fluids) go away? Can no-no words like belt, hospital, or pro-wrestling be used more often? Are we going to see blood (from blading) return? It should be interesting to see how things play out.

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I'm imagining a product that treats itself (and its audience) with respect...much like the black and gold era of NXT. Also...no more burying promising call-ups just because they are "small fish" in a big pond, or pointlessly changing their names or gimmicks to make them look like idiots. One can only hope. 

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Credit:pwinsider

Just when you thought it couldn't get worse for Vince McMahon, it did.  The Wall Street Journal is reporting that SEC (The Securities and Exchange Commission) as well as Federal Prosecutors have launched investigations into the NDA payments made by Vince McMahon to a growing number of women.

The Journal reported that these investigations led to Vince's sudden resignation (I will no longer play his game and call it a retirement) on Friday.  McMahon has bragged for decades about beating the Federal Government.  He may get the rematch that he doesn't want.

Edited by glennsoe

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Vince deserves all the shit he's getting. - I always had a problem with the way he would use his television persona to skirt accountability. 

It would be an absolute thing of beauty to see both McMahon and Trump eat shit at the same time. They are truly two peas in a pod.

Edited by Generations

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On 7/24/2022 at 5:11 AM, Fight Me. said:

It was pretty normal for NXT UK talent to be able to before the pandemic. I saw Pete Dunne with the UK title at PROGRESS when they were here in NY lol

Yeah, I read that they had extra rights down there for a while already. :)

Didn't knew it, that's why I thought it was something new.

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I hope Vince doesn't see peace towards the end of his life for the shit he's done. 

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Wrestlenomics: The additional $5.0 million WWE found in payments made by Vince McMahon in 2007 and 2009, and which should've counted as company expenses, match the amount and years of payments WWE made to the Trump Foundation, according to IRS filings.

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