Vince McMahon has resigned from his role at WWE and its parent company, TKO Group Holdings, following a series of grave allegations, including sex trafficking and rape.
According to reports from Deadline, former WWE employee Janel Grant accused McMahon of sexual assault and physical abuse, while also implicating former WWE executive John Laurinaitis.
Grant also revealed that McMahon agreed to pay her USD 3 million to keep their sexual relationship quiet in 2022 if she signed a non-disclosure agreement (NDA). Grant is now seeking a to get that NDA neutered, having signed it at that time. However, she claims to have received only USD 1 million and not the full amount.
Despite vehemently denying the allegations, calling them “lies” and “obscene made-up instances,” McMahon stepped down, citing respect for the WWE Universe and the stakeholders involved in the business he helped build into a global powerhouse.
“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.
“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, effective immediately,” McMahon added.
His resignation was confirmed by WWE president Nick Khan in a memo to staff, marking the end of an era for McMahon, who had previously stepped down and then returned amidst investigations into alleged misconduct and hush-money payments.
WWE’s long-time sponsor Slim Jim also released a statement following McMahon’s resignation, saying they’ve decided to pause their promotional activities with WWE.
“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,” read the statement.
The disturbing lawsuit and now McMahon’s resignation come just a day before the 37th edition of WWE’s Royal Rumble.
