Vince McMahon resigns from TKO Group and WWE amid assault and trafficking allegations, issues statement
Vince McMahon, executive chairman of the board of TKO Group Holdings and founder of sports entertainment juggernaut World Wrestling Entertainment, has resigned from his position at both companies.
The news comes according to an internal memo obtained and confirmed by CNBC.
“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.
On Thursday, The Wall Street Journal revealed that McMahon was the subject of a federal lawsuit after a former employee had accused him of sexual assault and trafficking her to other executives and WWE Superstars within the company.
Vince McMahon Issues Statement on Resignation
McMahon vehemently denied the allegations in a statement where he also announced his exit from all executive roles with TKO Group and WWE.
“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,” McMahon said in response to the allegations. “I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.”
“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,” the former Chairman of the Board added.
The lawsuit filed by Janel Grant alleges that McMahon directed her to have sex with a WWE Superstar and other men, including John Laurinaitis, the company’s former head of talent relations and general manager.
After her release from the company in January 2022, McMahon had Grant sign an NDA promising to pay her $3 million to keep quiet about their relationship but only made an initial payment of $1 million. Grant’s suit seeks to void a nondisclosure agreement.
In July 2022, it was revealed that McMahon had paid out $12 million to four women over 16 years to suppress allegations of sexual misconduct and infidelity. He resigned from WWE leadership posts in mid-2022 amid an internal investigation but returned in early 2023.
