Why has WWE’s Vince McMahon retired once again?
After more than four decades at the head of the WWE, the executive is stepping down amid what appears to be very disturbing allegations against him.
As details continue to emerge, much remains unclear but what is known is that Vince McMahon has relinquished all responsibilities pertaining to his role as the head of WWE and its parent company TKO Group Holdings.
WWE’s Vince McMahon resigns
According to reports on Friday, Vince McMahon has resigned from WWE’s parent company TKO Group Holdings one day after allegations of sexual abuse and trafficking surface. WWE president Nick Khan informed WWE staff of McMahon’s resignation on Friday.
“I wanted to inform you that Vince McMahon has tendered his resignation from his positions as TKO executive chairman and on the TKO board of directors,” Khan wrote in an all-staff email. “He will no longer have a role with TKO Group Holdings or WWE.” For context, McMahon’s resignation from TKO follows on from a series of horrific allegations that were made against him by a former employee just one day before. On Thursday, Janel Grant filed a lawsuit against WWE, McMahon, and former head of talent relations John Laurinaitis. The lawsuit details multiple allegations of sexual assault and “extreme depravity” conducted by McMahon and Laurinaitis. Grant also accused McMahon of trafficking her to other men “as a pawn to secure talent deals.”
Vince McMahon’s response to the allegations against him
In a statement released by McMahon, the now-former WWE boss made it clear that he intends to defend his name to the fullest legal extent possible. “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. “I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.” The statement continued: “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.”
This isn’t the first time Vince McMahon has been in trouble
Indeed, it’s not. This is in fact the second time in the past 18 months that McMahon has taken the decision to leave a corporate post that is connected to WWE. The 78-year-old previously retired as WWE chairman and CEO after investigations into sexual misconduct and millions of dollars reportedly paid in hush money. Later, he returned to WWE in January 2023 as an executive chairman focusing on leading WWE’s sales efforts. McMahon was then given the title of executive chairman of TKO after WWE and UFC merged into a single entity in a major deal that was coordinated by Endeavor. Ultimately, if there is one thing worth noting in all of this as far as WWE’s business is concerned, it’s the fact that the allegations against McMahon and his subsequent decision to resign, come just days after the organization signed a 10-year deal with Netflix to the tune of $5 billion. As the fallout continues, Slim Jim - a major WWE sponsor - has already decided to halt their promotional activities with the company.