Vince McMahon Resigns as Executive Chairman of WWE Amid Sexual Assault Allegations
In a shocking turn of events, Vince McMahon has resigned from his position as the Executive Chairman of TKO, the company that owns WWE. This announcement comes just a day after a former WWE staffer filed a federal lawsuit accusing McMahon of sexually assaulting her on multiple occasions.
McMahon, who is 78 years old, released a statement reiterating his innocence in regard to the disturbing allegations. However, he stated that stepping down from his executive chairmanship and the TKO board of directors is the best move for the wrestling promotion he built decades ago.
The resignation of McMahon, a wrestling legend, has sent shockwaves through the industry. McMahon was not involved in the day-to-day operations of WWE but still held a prominent role within TKO. TKO Group Holdings has owned WWE since its purchase in 2023.
The news of McMahon’s resignation was announced to WWE employees by current WWE president Nick Khan. In an email to the staff, Khan stated that McMahon has tendered his resignation and will no longer have a role with TKO Group Holdings or WWE.
The resignation comes after the filing of a federal lawsuit by Janel Grant, a former WWE staffer. In her lawsuit, Grant alleges that she was subjected to degrading sexual acts by McMahon. She even claimed that McMahon defecated on her during a threesome in 2020.
Grant stated that she felt miserable and enraged by the situation but did not leave because she believed her requests to stop would be ignored or used against her. She also accused McMahon of distancing himself from her after his wife, Linda McMahon, became aware of their alleged relationship.
According to Grant, McMahon agreed to pay her $3 million in exchange for signing a non-disclosure agreement. However, she claims that he failed to pay the full amount. McMahon has vehemently denied the allegations, calling the lawsuit “replete with lies” and a “vindictive distortion of the truth.”
The resignation of McMahon marks a significant shakeup for WWE and TKO Group Holdings. It remains to be seen how this will impact the future of the wrestling promotion. As the story continues to develop, fans and industry insiders are eagerly awaiting further updates.
