World Wrestling Entertainment (WWE) Executive Chairman Vince McMahon announced Wednesday that federal law enforcement subpoenaed him and executed a search warrant relating to past accusations of sexual misconduct.
"In 2022, WWE formed a special committee to review allegations of misconduct against me. That review was concluded in November 2022 following an extensive investigation," McMahon said in a post on the social media platform X Wednesday. "Throughout this experience, I have always denied any intentional wrongdoing and continue to do so."
CNBC reported that federal law enforcement agents executed a search warrant and served McMahon with a subpoena in July relating to an investigation regarding money he paid to women accusing him of sexual misconduct.
"I am confident that the government's investigation will be resolved without any findings of wrongdoing," his post reads. "I am focused on completing the recovery process from my recent spinal surgery and on closing our transaction with Endeavor, which will create one of the preeminent global sports and entertainment brands."
The news comes the same day as WWE announced its financial results for the second quarter of 2023, setting a quarterly record by bringing in $410.3 million in revenue, yielding a 25% increase, according to the company.
The company merged with Ultimate Fighting Championship (UFC) in April, forming a new publicly listed company called TKO Group Holdings, Inc., when the transaction closes in the second half of the year.
"We generated strong financial results in the quarter, highlighted by record quarterly revenue and Adjusted OIBDA. Operationally, we continue to effectively execute our strategy, including staging the most successful WrestleMania of all time in early April," CEO Nick Khan said in a press release announcing the quarterly results. "Strategically, in early April, we entered into a historic agreement with Endeavor to combine WWE with UFC to create a one-of-a-kind global sports and entertainment company. We believe that bringing these two iconic and highly complementary brands together will allow us to create incremental value for our shareholders."
CNBC reported that McMahon initially retired last summer before undergoing major spinal surgery, but returned in January as chairman.
"[The federal warrant and subpoena are] a continuation of the investigation that commenced last summer," the company said in a statement to CNBC. "WWE has cooperated throughout and fully understands and respects the government's need for a complete process."
According to the report, McMahon reimbursed the company $17.4 million in "costs incurred" regarding the matter.