In a shocking turn of events, Vince McMahon, the iconic figure behind the global wrestling phenomenon WWE, has resigned from his executive role at both WWE and its parent company, TKO Group Holdings.
The resignation comes in the wake of grave allegations, including accusations of sex trafficking and rape, levied against McMahon by former WWE employee Janel Grant.
According to reports from Deadline, Grant has accused McMahon of sexual assault and physical abuse, implicating not only the WWE magnate but also former WWE executive John Laurinaitis in the disturbing events.
Grant further revealed that McMahon had allegedly agreed to pay her a substantial sum of USD 3 million in 2022 to keep their purported sexual relationship under wraps through a non-disclosure agreement (NDA). However, she claims to have received only USD 1 million of the agreed-upon amount.
Despite McMahon vehemently denying the allegations, labeling them as "lies" and "obscene made-up instances," he announced his resignation, expressing respect for the WWE Universe and stakeholders involved in the global wrestling empire he helped build.
“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,” said McMahon in response to the allegations.
Out of respect for the WWE Universe, TKO business, and its various stakeholders, McMahon has chosen to step down from his executive chairmanship and the TKO board of directors with immediate effect.
WWE president Nick Khan confirmed McMahon's resignation in a memo to staff, marking the end of an era for the wrestling industry titan. This departure follows McMahon's previous stepping down and subsequent return amidst investigations into alleged misconduct and hush-money payments.
The repercussions of McMahon's resignation are already being felt, as long-time WWE sponsor Slim Jim announced a pause in their promotional activities with WWE, stating, “Slim Jim values integrity and respect in all of our partnerships. Given the recent disturbing allegations against Vince McMahon, at this time we’ve decided to pause our promotional activities with WWE. This decision reflects our commitment to our brand values and responsibility to our community.”
