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Vince McMahon has resigned from WWE and UFC parent company TKO Group Holdings, following allegations of sexual assault and trafficking.
The allegations came to light in a lawsuit filed by former WWE employee Janel Grant. WWE and John Laurinaitis, the former WWE head of talent relations, are also named as defendants.
The lawsuit was filed in the U.S. District Court for the District of Connecticut on Thursday, January 25. According to the lawsuit, Grant was trafficked “as a pawn to secure talent deals.”
McMahon issued a statement announcing his resignation but adamantly denied the allegations against him.
“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 a statement. “I intend to vigorously defend myself against these baseless accusations and look forward to clearing my name.
BREAKING NEWS: Vince McMahon has officially resigned from WWE and UFC parent company TKO Group Holdings. (Via Deadline) OFFICIAL STATEMENT https://t.co/x2W2Zi6l0a pic.twitter.com/I8hUYstSmp
— NoDQ.com: WWE and AEW news (@nodqdotcom) January 27, 2024
“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.”
WWE boss Nick Khan sent his own statement to employees, saying, “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. He will no longer have a role with TKO Group Holdings or WWE.
In June 2022, McMahon stepped down as WWE CEO after an investigation discovered he agreed to pay $3 million to a former employee he had an affair with. He was also accused of raping referee Rita Chatterton in 1986.
The news comes just days after WWE reached a 10-year, $5 billion deal with Netflix to move Monday Night Raw to the streaming service beginning in January 2025.
