In the aftermath of the deeply troubling accusations leveled against him by Janel Grant, Vince McMahon’s association with WWE has come to an abrupt end.
Nick Khan, the President of WWE, took the initiative to communicate McMahon’s resignation to the company’s staff on a Friday night. Khan officially conveyed that McMahon has stepped down from his role as the Executive Chairman of TKO Group Holdings. Furthermore, Khan emphasized that McMahon would no longer have any involvement with either TKO or WWE.
Here’s the text of Khan’s email to the staff:
“I wanted to apprise you of Vince McMahon’s decision to tender his resignation from his positions as the Executive Chairman of TKO and as a member of the TKO Board of Directors. He will no longer hold any responsibilities within TKO Group Holdings or WWE.”
McMahon’s resignation comes on the heels of Grant’s lawsuit, which was filed a day earlier and contains allegations of physical and emotional abuse, sexual assault, and sex trafficking against him. In response, TKO characterized these allegations as “horrific” and pledged to address the matter internally.
Following his resignation, McMahon issued a statement reiterating his steadfast intent to vigorously refute what he termed as “baseless” accusations:
“I stand by my previous statement that Ms. Grant’s lawsuit is riddled with falsehoods, fabricated incidents that never transpired, and represents a malicious distortion of the truth. I am resolute in my determination to defend myself against these groundless charges and am eager to clear my name. Nevertheless, out of consideration for the WWE Universe, the exceptional TKO enterprise, its dedicated board members and stakeholders, partners, constituents, and all the employees and Superstars who have played a pivotal role in establishing WWE as the global leader it is today, I have chosen to step down from my executive chairmanship and vacate my position on the TKO board of directors, effective immediately.”
In response to the allegations against McMahon, Slim Jim declared on Friday that it would be suspending its sponsorships with WWE.
Notably, Janel Grant is a former WWE employee, and her lawsuit names Vince McMahon, WWE, and John Laurinaitis as defendants.
This incident marks McMahon’s second departure from WWE, the first being in July 2022 amidst a controversy surrounding hush-money payments, which began when WWE’s board of directors learned of his settlement with Grant.
However, McMahon was the majority shareholder of WWE at that time and managed to reclaim his position in January 2023. This time, however, such a return to power is no longer an option following WWE’s acquisition by Endeavor in September of the previous year.
Vince McMahon’s resignation from both WWE and TKO Group Holdings is a significant development in the world of professional wrestling. How do you think this will impact the future direction of both WWE and TKO, and what changes or shifts in leadership do you anticipate in these organizations in light of McMahon’s departure? Let us know below.