WWE’s SEC filing reveals that the wrestling juggernaut may have a bigger problem than what it looks like on the surface. Vince McMahon and his hush-money scandal have accumulated unrecorded expenses of $19.6 Million. This scandal puts into rest any factors that may have given thought as if this was a cooked-up story by Wall Street Journal. Vince McMahon has served as the Chairman of the Board. As of this writing, He continues to be the major stockholder in the WWE. The SEC filing has confirmed that there are some unrecorded expenses. The company also expressed other concerns during its filing.
Vince has served as the creative, CEO, and Chairman of WWE. McMahon still holds control due to his share hold despite being away from the picture. WWE, in its filing, stated that with the former Chairman out of the position, there would be a concern in creating new superstars and characters. While this seems to be a concern, one person alone cannot be greater than an entire company or an industry. It is clear that WWE has done better since his release, and the numbers speak for themselves. The recent weekly show numbers are a testament that WWE is in the right hands.
Fans love the new show where every superstar is getting a chance. WWE has kept many jobbers over the years. With the new regime, things seem to be changing for the better. Ali has got his due while former superstars have returned and left an impact on the show. Dexter Lumis’ teased character has the fans divided. This style of storytelling keeps the fans involved.
Social Media traction helps the brand. WWE is doing it well under the new regime. HHH has created so many superstars, so creating new ones will not be a problem. WWE may face concerns in correcting their 2019, 2020, 2021 and 2022’s financial statements due to the former Chairman. Will this help the business get rid of the federal probe? Only time will give us the answers.