Amid recent allegations of widespread sexual misconduct, Vince McMahon, co-founder of WWE in 1982, has officially stepped down from his role as TKO executive chairman and resigned from the TKO board of directors.
This decision follows a lawsuit filed by former WWE employee Janel Grant, accusing McMahon and others, including John Laurinaitis, of violating the Trafficking Victims Prevention Act.
In his resignation statement, the 72-year-old McMahon vehemently refuted Grant’s allegations, describing her lawsuit as filled with “lies, obscene made-up instances,” and a “vindictive distortion of the truth.” McMahon expressed his commitment to vigorously defending himself against these accusations and clearing his name.
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Despite his denial, McMahon acknowledged the impact on the WWE Universe, TKO business, board members, shareholders, partners, employees, and Superstars. In consideration of these entities and out of respect for their contributions to WWE’s global leadership, McMahon has chosen to resign from both his executive chairmanship and the TKO board of directors, effective immediately.
Grant’s lawsuit, filed in the U.S. District Court for the District of Connecticut, centers around alleged missed hush money payments, with McMahon having briefly stepped down as WWE chairman in 2022 during an investigation into a reported $3 million non-disclosure agreement.
According to the lawsuit, McMahon ceased payments to Grant after the earlier investigation, accusing her of violating their agreement and leaking information to the media. The non-disclosure terms, outlined in legal documents, indicated that Grant was owed $500,000 annually from 2023 to 2026, with McMahon having paid $1 million of the agreed $3 million.
The lawsuit further alleges that McMahon and Laurinaitis violated the Trafficking Victims Prevention Act, with Grant claiming she was treated as McMahon’s “sex toy” and engaged in unwanted sexual encounters, including threesomes. Leaked lewd text messages were included in the filing, implicating other WWE employees and wrestlers.
TKO Group Holdings, a product of the merger between WWE and UFC, was created by Endeavor Group Holdings last year.
