WWE to file quarterly report late, noting new $5M in payments from McMahon (NYSE:WWE)

World Wrestling Leisure (NYSE:WWE) has mentioned that its quarterly report will probably be late this time round, noting some beforehand unrecorded funds made by its former CEO Vince McMahon amid the corporate’s investigation of allegations of alleged affairs and misconduct.

In an SEC submitting, the corporate says that because it had beforehand decided funds of $14.6M made by McMahon weren’t appropriately recorded as bills, it is realized two further funds totaling $5M (and made by McMahon) ought to have been recorded as bills. These funds are unrelated to the allegations resulting in a Particular Committee investigation, the corporate says.

Meaning a complete of $19.6M in unrecorded bills. These weren’t materials in any particular person interval during which they arose, however the firm says they’d be materials if recorded totally within the second quarter of 2022.

So WWE will revise earlier monetary statements for the years ended Dec. 31 2019, 2020, and 2021, in addition to the primary quarter of 2022.

The corporate will probably be late submitting its kind 10-Q for the June quarter, however it anticipates it would file inside a offered five-day extension interval.

WWE had indicated in preliminary numbers that income was set to return in at $328M, vs. consensus for $311.6M.