Vince McMahon has resigned from WWE’s mother or father firm TKO Group Holdings at some point after allegations of sexual abuse and trafficking emerged. WWE president Nick Khan knowledgeable WWE workers of McMahon’s resignation on Friday.
“I needed to tell you that Vince McMahon has tendered his resignation from his positions as TKO government chairman and on the TKO board of administrators,” Khan wrote in an all-staff e-mail. “He’ll now not have a task with TKO Group Holdings or WWE.”
McMahon’s resignation from TKO comes within the aftermath of horrifying allegations levied towards McMahon by a former worker. On Thursday, Janel Grant filed a lawsuit towards WWE, McMahon and former head of expertise relations John Laurinaitis. The lawsuit particulars a number of allegations of sexual assault and “excessive depravity” carried out by McMahon and Laurinaitis. Grant additionally accused McMahon of trafficking her to different males “as a pawn to safe expertise offers.”
“I stand by my prior assertion that Ms. Grant’s lawsuit is replete with lies, obscene made-up cases that by no means occurred, and is a vindictive distortion of the reality,” McMahon stated in a press release. “I intend to vigorously defend myself towards these baseless accusations, and sit up for clearing my identify.
“Nevertheless, out of respect for the WWE Universe, the extraordinary TKO enterprise and its board members and shareholders, companions and constituents, and the entire workers and Superstars who helped make WWE into the worldwide chief it’s immediately, I’ve determined to resign from my government chairmanship and the TKO board of administrators, efficient instantly.”
This marks the second time in 18 months that McMahon has stepped down from company roles involving WWE. McMahon beforehand retired as WWE chairman and CEO amid investigations into sexual misconduct and tens of millions paid in hush cash. McMahon returned to WWE in January 2023 as an government chairman to steer WWE’s gross sales efforts. McMahon was granted the title of TKO government chairman after WWE and UFC merged in a deal coordinated by Endeavor.
The latest allegations towards McMahon come days after WWE signed a 10-year take care of Netflix totaling $5 billion. Slim Jim — a key WWE sponsor — paused their promotional actions with the corporate in gentle of the allegations. A spokesperson for McMahon launched a press release addressing the lawsuit on Thursday night time.
“This lawsuit is replete with lies, obscene made-up cases that by no means occurred, and a vindictive distortion of the reality. He’ll vigorously defend himself.”