During the conference call with investors, WWE’s CFO Frank Riddick said that going forward, the company expects to incur additional costs related to the Vince McMahon investigation, suggesting more payouts will be handed to settle potential lawsuits.
Riddick said that Vince McMahon has agreed to pay the reasonable cost of the investigation not covered by insurance and any future payments related to the investigation. WWE had a $2.3 million expense related to the investigation in Q4 2022 and the results also include $7.4 million of expenses reflecting payments that McMahon has agreed to make related to additional claims that have recently been settled.
“These payments were or will be paid by Mr. McMahon personally,” Riddick said.
McMahon recently settled a case involving former WWE referee Rita Chatterton which happed in the mid-80s in New York. Chatterton claimed that McMahon raped her in the back of a limousine and McMahon settled with her last month to avoid additional litigation costs. Chatterton wanted over $11 million but sources say the two parties settled for much less.