WWE Founder Vince McMahon Resigns Amid Accusations Of Sexual Assault And Trafficking: Reports
In the wake of serious allegations, including sex trafficking and rape, Vince McMahon has stepped down from his positions at WWE and its parent company, TKO Group Holdings.
Vince McMahon, the executive chairman of the board of TKO Group Holdings and the founder of the wrestling giant WWE, has reportedly resigned from his positions at both companies. This decision follows the recent public revelation of allegations, made on Thursday, involving sexual assault and sex trafficking against McMahon.
The most recent accusations against McMahon emerged in a lawsuit filed by Janel Grant, who claims McMahon instructed her to engage in sexual activities with a WWE superstar and other individuals. Grant's legal action aims to invalidate a nondisclosure agreement she asserts she entered into with McMahon in early 2022.
“Vince McMahon has tendered his resignation from his positions as TKO Executive Chairman and on the TKO Board of Directors. He will no longer have a role with TKO Group Holdings or WWE,” said Nick Khan, president of the WWE as per a CNBC report.
BREAKING NEWS: Vince McMahon has officially resigned from WWE & UFC parent company TKO Group Holdings.
— Wrestle Ops (@WrestleOps) January 27, 2024
— DEADLINE pic.twitter.com/kJX8fEIhVo
McMahon Refutes The Grave Accusations Against Him
While McMahon has refuted the allegations, he released a statement late on Friday as per the CNBC report expressing, “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.”
According to Grant's lawsuit filed in U.S. District Court in Connecticut, the billionaire McMahon allegedly agreed to a $3 million settlement, but ultimately only paid $1 million. This agreement was intended to secure Grant's silence regarding his behavior. Alongside McMahon, 78, the complaint also lists WWE and John Laurinaitis, the company's former head of talent relations and general manager, as defendants.
Following McMahon's resignation, WWE's longstanding sponsor Slim Jim issued a statement announcing their decision to temporarily halt 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,” reads the statement as per POST Wrestling's report.
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