New report about Vince McMahon’s unrecorded expenses.
The Wall Street Journal pushed out a new report concerning WWE and Vince McMahon. It is noted in the article that $5 million was donated to Donald Trump’s charity in 2007 and 2009. That money is part of the $19.6 million that McMahon did not record.
Those familiar with the board investigation relayed that the donations were made to the now-dissolved foundation in the years that Trump appeared for WWE. An attorney for the WWE said the payments to Trump should have been recorded as business expenses because McMahon was a principal shareholder and the payments helped the company. The attorney declined to explain why those payments benefited WWE.
For WrestleMania 23, Trump directed McMahon to donate $4 million to his charity. Trump’s associates reviewed that contract for WrestleMania and under no circumstances was Trump going to have his head shaved, with the article noting that it wouldn’t happen if “Mr. Trump’s wrestler dropped dead in the ring” in reference to Bobby Lashley.
The foundation’s tax returns read that the $5 million came from WWE, but in the security filings earlier this month, it was noted that the payments came from Vince McMahon personally.