Detroit Police Pension Board Sues WWE, As Ex-CEO Returns: Reports

DETROIT — The Detroit police and fire pension board is suing World Wrestling Entertainment to prevent a sale after former CEO Vince McMahon reclaimed power within the company, according to multiple reports.

Detroit's Police and Fire Retirement System has $100,000 of its $2.8 billion fund invested in the WWE, and some board members are upset that McMahon rejoined the company's board after resigning when investigators found he paid more than $12 million to cover up claims of alleged sexual misconduct and infidelity dating back to 2006, Fox 2 Detroit reported.

"I personally think that any time you hear the words sexual assault and rape, you need to stop what you're doing and disassociate yourself from that person in your company," Councilman Coleman Young, who sits on the pension board, told Fox 2 Detroit. "And now he's trying to sell the company, illegally I believe, to the Saudis of one, but also to the Khans who also own AEW, a competitor to WWE in terms of wrestling."

The pension board for the city's police and fire has 16 members that include six elected active-duty police and fire personnel (3 each); two elected retired personnel (one each, police and fire); one appointed City Council designee; and seven ex-officio appointees of the city of Detroit, appointed by the mayor.

Patch reached out to the WWE for comment and will update this story if the organization responds.

McMahon, 77, stepped away from his position as chairman of the WWE after he was accused of using more than $12 million to cover up sexual harassment allegations dating back to 2006, the New York Times reported.

Six months later, McMahon used his shareholder power within the company to remove three board members and effectively put himself back in charge as the company's CEO, according to a Variety report.

As the controlling shareholding of WWE, McMahon indicated he could sell the company to another entertainment company, according to a CNBC report.