Vince McMahon, the executive chairman of TKO, WWE’s parent company, has resigned from his position following disturbing allegations of sexual assault, trafficking, and physical abuse. These allegations surfaced in a lawsuit filed by former WWE staffer Janel Grant, who worked at the company’s headquarters.
McMahon Denies Allegations but Resigns from Executive Chairmanship
McMahon has denied the allegations but announced his resignation in a statement, citing respect for the WWE Universe, TKO’s business, board members, shareholders, partners, constituents, employees, and Superstars. He stated his decision to resign from his executive chairmanship and the TKO board of directors effective immediately.
Allegations and Lawsuit Details
Grant’s lawsuit alleges that McMahon used a job offer and promotions at WWE as leverage for sexual favors. Additionally, it accuses McMahon of trafficking Grant to other men, including John Laurinaitus, a defendant in the suit who worked in the company’s talent relations department. The lawsuit describes acts of extreme cruelty and degradation by McMahon during Grant’s time at WWE.
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Response from TKO and WWE
TKO addressed McMahon’s resignation in an email to staff and a statement to the press but did not comment on the specific allegations. WWE President Nick Khan informed staff of McMahon’s resignation in an email, stating that McMahon would no longer have a role with TKO Group Holdings or WWE.
Vince McMahon Previous Retirement and Return
This is not the first time McMahon has resigned from WWE. He retired as CEO and chairman in July 2022 amid similar allegations but returned to WWE’s board in January 2023 after the investigation into the allegations was closed.
McMahon’s resignation marks a significant development for WWE, especially considering recent business partnerships. Dwayne “The Rock” Johnson, a former WWE wrestler, announced his joining TKO’s board of directors. WWE will pay Johnson $30 million in stock awards as part of the deal. Additionally, Netflix announced an exclusive deal to stream “WWE Raw” starting in January 2025, valued at over $5 billion according to TKO filings.
Conclusion
Vince McMahon’s resignation amidst allegations of sexual misconduct and trafficking has raised questions about the culture at WWE and the handling of such allegations. Grant’s lawsuit sheds light on disturbing incidents and practices within the company. McMahon’s departure also comes at a crucial time for WWE as it navigates new business partnerships and initiatives.
