Vince McMahon Cost WWE $20 Million, Matt Riddle Feud Dropped

WWE has completed their investigation into Vince McMahon and it cost them $20 million. Also, a huge Matt Riddle angle has been dropped.

Vince McMahon Cost WWE $20 Million

Many people believed Vince McMahon would never leave WWE. In fact, most thought that day would only arrive when he passed away.

McMahon worked hard to make WWE what is today. Unfortunately, he was basically forced out of WWE when hush money scandals were revealed. 

He could have stayed, but the damage was already done the company. Instead, he decided to retire over the summer.

He was accused of paying over $12 million over the course of 16 years to suppress allegations of sexual misconduct.

WWE created a special counsel to investigate the claims. The investigation is complete and it cost WWE $19.4 million, which Vince will pay.

The following statement was provided by WWE.

“As previously announced, a Special Committee of independent members of the Board of Directors was formed to investigate alleged misconduct by Vincent K. McMahon, the Company’s former Chairman and Chief Executive Officer, who resigned from all positions held with the Company on July 22, 2022 but remains a stockholder with a controlling interest, and another executive, who is also no longer with the Company. The Special Committee investigation is now complete and the Special Committee has been disbanded. Management is working with the Board to implement the recommendations of the Special Committee related to the investigation. For the three and nine-month periods ended September 30, 2022, the Company’s consolidated pre-tax results include the impact of $17.7 million and $19.4 million, respectively, associated with certain costs related to the investigation. Please see the Company’s SEC filings, including, but not limited to, its annual report on Form 10-K/A and quarterly reports on Form 10-Q/A and Form 10-Q for further details and ongoing risks regarding this matter.”

With Vince no longer in the picture, the landscape of WWE has dramatically changed. Stephanie McMahon and Nick Khan were named Co-CEOs, with Triple H running creative. 

Already, fans are noticing how the WWE has improved. And, the ratings seem to match those beliefs.

Matt Riddle Feud Dropped

Randy Orton has been off WWE TV since June. WWE had The Usos attack him as he needed time off because of a back injury.

Since then, reports that stated that Orton is likely to miss the remainder of 2022. Also, there is some fear that his legendary career could be in jeopardy.

During a GiveMeSport interview with WrestleVotes, they noted how WWE has nixed his feud with Matt Riddle. Most thought it was only a matter of time before Orton turned on his tag team partner.

Pairing Riddle and Orton together made for some great TV. They are historical together and worked well.

A feud with Orton cold turn Riddle into a real threat to anybody.

Of course, if Orton does return, WWE could easily continue the angle with Riddle. Probably, it will come down to what Riddle is doing once Orton is back.