Vince McMahon has resigned from TKO Group Holdings after new allegations of sex trafficking, sexual assault and more that were levied against him on Thursday.
In a lawsuit filed on Thursday, McMahon was accused of sex trafficking, emotional and physical abuse, sexual assault and more. The lawsuit was filed by former employee Janel Grant. WWE and John Laurinaitis were also named in the lawsuit.
According to a report from Deadline, Vince McMahon has resigned from his position as Executive Chairman and a member of the TKO Board of Directors.
You can check out Vince McMahon’s official statement below:
“I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth. I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.
“However, out of respect for the WWE Universe, the extraordinary TKO business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the TKO board of directors, effectively immediately.”
Vince McMahon retired from WWE in July of 2022 after the first allegations that he had made “hush money” payments to a woman he was having an affair with in WWE. After the investigation, the WWE Board of Directors found an additional $16 million was paid to four women over the course of 12 years.
McMahon weaseled his way back into WWE in January of 2023 due to his voting power. This led to him selling the company to Endeavor. As part of the deal, McMahon would no longer be in charge of WWE, but would instead become the Executive Chairman of TKO.
WWE President Nick Khan sent out the following memo to some staff as SmackDown was on the air:
“I wanted to inform you that Vince McMahon has tendered his resignation from his positions as TKO Executive Chairman and on the TKO Board of Directors. He will no longer have a role with TKO Group Holdings or WWE.
Nick Khan”
Vince McMahon Resigns from TKO Group Holdings Amidst New Allegations
In a shocking turn of events, Vince McMahon, the former CEO and Chairman of WWE, has resigned from his position as Executive Chairman and a member of the TKO Board of Directors. This decision comes after new allegations of sex trafficking, sexual assault, and more were levied against him in a lawsuit filed by former employee Janel Grant.
The lawsuit, filed on Thursday, accuses McMahon of engaging in sex trafficking, emotional and physical abuse, and sexual assault. WWE and John Laurinaitis, a top executive at the company, were also named in the lawsuit. These serious allegations have sent shockwaves through the wrestling industry and have prompted McMahon’s resignation.
In response to the lawsuit, McMahon released an official statement vehemently denying the allegations. He called the lawsuit “replete with lies” and described it as a “vindictive distortion of the truth.” McMahon expressed his intention to vigorously defend himself against these baseless accusations and clear his name.
However, despite his strong denial, McMahon decided to step down from his executive chairmanship and the TKO board of directors out of respect for the WWE Universe, TKO’s business partners and constituents, shareholders, employees, and Superstars who have contributed to making WWE a global leader in sports entertainment.
This is not the first time McMahon has faced controversy. In July 2022, he retired from WWE after allegations surfaced that he had made “hush money” payments to a woman he was having an affair with in the company. An investigation conducted by the WWE Board of Directors revealed that an additional $16 million had been paid to four women over a span of 12 years.
Despite his retirement, McMahon managed to regain control of WWE in January 2023 due to his voting power. However, as part of a deal with Endeavor, he sold the company and assumed the role of Executive Chairman at TKO. This move was intended to remove McMahon from direct control of WWE but still allowed him to maintain influence within the industry.
The resignation of Vince McMahon has undoubtedly sent shockwaves through the wrestling world. WWE President Nick Khan confirmed the news in a memo sent to some staff members during a SmackDown broadcast. The memo stated that McMahon had tendered his resignation and would no longer have any role within TKO Group Holdings or WWE.
As the allegations against McMahon continue to unfold, it remains to be seen how this will impact both his personal reputation and the future of WWE. The wrestling industry has been grappling with issues of misconduct and abuse, and this latest development only adds to the ongoing conversation about creating a safer and more inclusive environment for all involved.