March 24 (Reuters) – World Wrestling Entertainment Inc (WWE) (WWE.N) stated on Friday Executive Chairman Vincent McMahon had paid $17.4 million to the corporate to cowl prices associated to an investigation into his alleged misconduct.

McMahon, credited with reworking WWE from a regional participant to a world large, retired as CEO and chairman of the corporate in July final 12 months. He returned to the board in January, after the probe was wrapped up.

The Wall Street Journal had reported that he was being investigated by the board for agreements to pay $12 million over the previous 16 years to suppress allegations of sexual misconduct and infidelity.

WWE stated in January that it will discover strategic options. McMahon stated he would contain himself within the firm’s media rights acquisition course of because it seems to capitalize on rising demand for content material and stay leisure.

Reporting by Akash Sriram in Bengaluru; Editing by Devika Syamnath

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