Vince McMahon scandal is costing WWE very expensive

Sports: Thursday, June 23, 2022 2:19 PM

Sports: 2022/06/23 02:19pm

As a result of the investigation, he had to leave his positions as president and CEO of the company.

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The scandal that has as its protagonist Vince McMahon is costing WWE very expensive.

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According to reports, as of Wednesday, the wrestling company had a market capitalization of just over $5 billion.. Since then, when word got out that his board was investigating McMahon, WWE lost $500 million in valuation. Stocks listed on the stock market fell as much as 10% in the last week.

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However, the company’s television ratings, both SmackDown and Raw increased in viewership.

McMahon is investigated for allegedly paying 3 million dollars for the silence of a former WWE worker with whom he had an affair.

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Vince left his positions as president and chief executive officer of the company.

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