- Vince McMahon resigned from the board of administrators of WWE’s dad or mum firm Friday night.
- The resignation follows a lawsuit from a former WWE worker accusing the WWE govt of sexual misconduct.
- McMahon referred to the intense accusations as “baseless” and mentioned he would defend himself in courtroom.
Wrestling icon Vince McMahon resigned Friday from WWE’s dad or mum firm the day after a former worker filed a federal lawsuit accusing him and one other former govt of significant sexual misconduct, together with providing her to a star wrestler for intercourse.
According to an announcement launched late Friday, McMahon stepped down from the board of administrators at WWE’s dad or mum firm, TKO Group Holdings. He continued to disclaim wrongdoing following the lawsuit filed by Janel Grant, who labored within the firm’s authorized and expertise departments.
Instead, McMahon mentioned that his resignation was “out of respect” for WWE.
The go well with consists of allegations that McMahon, now 78, compelled Grant right into a sexual relationship to ensure that her to get and maintain a job and handed round pornographic photos and movies of her to different males, together with different WWE workers.
“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,” he mentioned within the assertion. “I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.”
In a Friday message, WWE President Nick Khan additionally up to date workers on the information, telling them McMahon would “no longer have a role with TKO Group Holdings or WWE,” per a memo despatched to Business Insider.
McMahon stepped down as WWE’s CEO in 2022 amid an investigation into allegations that match these within the lawsuit filed in US District Court in Connecticut, the place WWE relies.
The WWE board started investigating allegations that McMahon paid off accusers for his or her silence following his resignation as CEO.
Despite leaving his official put up, McMahon remained a controlling shareholder, and fewer than six months after the allegations, McMahon returned to the corporate as a member of the WWE board.
McMahon was the chief and most recognizable face at WWE for many years. When he bought what was then the World Wrestling Federation from his father in 1982, wrestling matches happened at small venues and appeared on native cable channels. WWE matches at the moment are held in skilled sports activities stadiums, and the group has a large abroad following.
WWE merged final April with the corporate that runs Ultimate Fighting Championship to create the $21.4 billion sports activities leisure firm TKO Group Holdings, and McMahon served as that group’s govt chairman of the board till Friday.
TKO Group Holdings referred Business Insider to McMahon’s assertion.
“Mr. McMahon does not control TKO nor does he oversee the day-to-day operations of WWE,” TKO Group mentioned earlier this week. “While this matter pre-dates our TKO executive team’s tenure at the company, we take Ms. Grant’s horrific allegations very seriously and are addressing this matter internally.”
Representatives for Grant didn’t instantly reply to a request for remark from Business Insider.