WWE finds former boss Vince McMahon made £12m payments that werent on expenses

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Former WWE chief executive officer Vince McMahon has been found to have made £12 million of mysterious payments using company funds – and they weren't recorded on expenses.

The now-ex boss of the sports entertainment company has been under fire in recent weeks after it emerged that the board of World Wrestling Entertainment was said to be investigating a £2.4million ($3million) hush money settlement over an alleged affair between Mr McMahon and a former WWE employee.

And he suddenly retired from the company on Friday, with the announcement coming just hours before the live Friday Night Smackdown show.

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Earlier today, it was announced that Triple H, real-name Paul Levesque, would take on "all responsibilities" relating to the creative path of the company, which is a role formerly held by Mr McMahon, while is daughter Stephanie McMahon was appointed co-interim CEO alongside Nick Khan.

And now the company has revealed the £12 million hole in the company's expenses filings.

A spokesman said: “The Company 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 (they) were not recorded in the WWE consolidated financial statements, should have been recorded as expenses in the quarters in which those agreements were made (the “Unrecorded Expenses”).

“As of the date hereof, the Company has identified Unrecorded Expenses totaling approximately $14.6 million.

“All payments underlying the Unrecorded Expenses were or will be paid by Vince McMahon personally.”

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They added that they – Vince McMahon and the company – had “also received, and may receive in the future, regulatory, investigative and enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters”.

The retirement of McMahon, 77, was announced on his Twitter page where he said it was "time for me to retire" after the WWE board began an investigation into a £2.4million ($3million) hush money settlement.

It was rumoured that he actually decided to retire around two weeks prior.

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