Vince McMahon Investigated By WWE Board After Alleged $3M Payment To Ex-Employee

According to a new report by The Wall Street Journal, Vince McMahon made a multi-million dollar settlement to a former employee after they had an affair.

The board of World Wrestling Entertainment is looking into the circumstances surrounding the alleged affair and subsequent payment, according to the WSJ.

World Wrestling Entertainment is a publicly- traded company on the New York Stock Exchange. Despite the paper's story going public, the company's stock closed up nearly 5%. Vince has a lot of power within the top wrestling promotion.

Over the course of 5 years, McMahon agreed to pay a former employee with whom he had an affair three million dollars.

McMahon paid $1 million up front and the rest would be spread out over 5 years, according to the woman.

Vince and Linda have been married for 50 years.

Vince and his family make up a small part of the board.

McMahon's daughter, who recently stepped away from the company to spend time with her fam, and her husband, Triple H, are also on the board.

The other members have hired a New York City law firm to look into the situation.

McMahon used personal funds to make a payment, according to the Journal.

The relationship with the woman was consensual and the company is cooperating with the board's investigation.