Vince McMahon resigns from WWE

Vince McMahon resigns from WWE

Vince McMahon, longtime chairman and former CEO of World Wrestling Entertainment, resigned from his positions with WWE and its parent company, the TKO Group, on Friday, a day after a former employee accused him of sexual assault and federal money trafficking. trial.

WWE employees were informed of the changes in an email sent by WWE Chairman Nick Kahn. “He will no longer have a role with TKO Group Holdings or WWE,” Mr. Kahn wrote in the email, a copy of which was obtained by The New York Times.

Vince McMahon at WWE headquarters in Stamford, Connecticut, in 2018.Credit…Jesse Dittmar for the New York Times

The suit, filed in U.S. District Court in Connecticut, accused Mr. McMahon of trafficking the employee, Janel Grant, as well as physical and emotional abuse. The graphic complaint, which also names John Laurinatis, a WWE executive, and the company itself as defendants, says Mr. McMahon and Mr. Laurinatis took turns hitting her, among many other allegations.

Mr. McMahon ultimately pressured Ms. Grant to sign a nondisclosure agreement in exchange for $3 million, according to the complaint, but only paid her $1 million.

In a statement released after his resignation, Mr McMahon called Ms Grant’s trial a “vindictive distortion of the truth” and said he looked forward to clearing his name. But he decided to resign “out of respect” for TKO, WWE, their employees and wrestlers.

This trial is far from the first time Mr. McMahon has been accused of sexual misconduct. In 2022, a special committee of the WWE Board of Directors conducted an investigation into Mr. McMahon’s conduct and found that for 16 years he had spent $14.6 million on payments to women who had accused him of sexual misconduct. Further investigation by the company revealed that he paid an additional $5 million to two different women.

Mr. McMahon temporarily resigned from WWE during the investigation. But he remained the company’s largest shareholder, and in 2023 he returned to chair its board and initiated a sales process that resulted in the purchase of sports and entertainment conglomerate Endeavor. Endeavor then combined WWE and another of its holdings, the mixed martial arts promotion company Ultimate Fighting Championships, into a new public company, TKO Group.

This is a revolutionary story. It will be updated.

Avatar photo

David B.Otero

Related Posts

Read also x