Vince McMahon, WWE Founder, Resigns Amid Sex Trafficking Allegations

Vince McMahon has resigned as executive chairman of TKO, WWE’s parent company, following serious allegations of sexual assault, trafficking, and physical violence.

Janel Grant, a former WWE employee who worked at the company’s headquarters, made the claims public in a lawsuit she filed.

McMahon has refuted the charges and stated that he is prepared to defend himself in court. McMahon, however, announced his resignation in a statement released on Friday.

“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,” said Vince McMahon in a statement.

Vince McMahon, WWE Founder, Resigns Amid Sex Trafficking Allegations

Reports that McMahon paid settlements to many women while serving as WWE’s CEO and chairman have circulated since at least 2022, but Grant’s lawsuit, filed on Thursday, gives additional information on the scope of McMahon’s alleged misbehaviour.

Grant claimed in the lawsuit that McMahon offered him a job at WWE and future promotions in exchange for sexual favours. Grant’s lawsuit also claims that McMahon trafficked her to men both inside and outside the organisation, including John Laurinaitus, who worked in the company’s talent relations department and is named as a defendant in the case.

The lawsuit claimed that McMahon subjected Grant to “extreme cruelty and degradation” throughout her time at WWE.

In an email to employees and a press statement, TKO addressed solely McMahon’s job status with the organisation and did not go into detail about the claims. In an email to colleagues acquired by CNN on Friday, WWE President Nick Khan stated that McMahon has resigned from his executive chairmanship and board member responsibilities.

Vince McMahon, WWE Founder, Resigns Amid Sex Trafficking Allegations

“He will no longer have a role with TKO Group Holdings or WWE,” Khan said in an email.

Following Grant’s allegations in a lawsuit, the corporation stated on Thursday that “McMahon does not control TKO or oversee day-to-day operations at WWE.”

McMahon’s Second Resignation
McMahon’s departure signals another watershed moment for the wrestling entertainment corporation he founded more than 40 years ago.

He initially retired as WWE’s CEO and chairman in July 2022 due to sexual misconduct allegations. At the time, WWE stated that a special committee would investigate McMahon.

However, his retirement did not last very long. The probe concluded in November 2022, and McMahon rejoined WWE’s board in January 2023.

Grant’s lawsuit calls into question the culture of WWE, where she claims employees deliberately attempted to conceal McMahon’s crimes. She claimed that the special committee tasked with investigating McMahon never interviewed her or requested any papers despite Grant’s purported readiness to comply.

When WWE and its rival UFC, owned by Hollywood power broker Ari Emanuel’s Endeavour Group, merged in September, McMahon previously served on the board of TKO. The merger valued the new firm at over $21 billion, with WWE shareholders controlling 49%. McMahon was WWE’s biggest stockholder.

Disturbing allegations
One distressing episode in the lawsuit described an alleged sexual assault between Grant, McMahon, and Laurinaitis at WWE headquarters in 2021. The two guys allegedly dragged Grant behind a locked door and forcibly restrained her. As she begged them to stop, one of the men allegedly said, “No means yes.”

Vince McMahon, WWE Founder, Resigns Amid Sex Trafficking Allegations

Grant’s attorney, Ann Callis, told CNN on Thursday that the lawsuit aimed to “hold accountable two WWE executives who sexually assaulted and trafficked Plaintiff Janel Grant, as well as the organisation that facilitated or turned a blind eye to the abuse and then swept it under the rug.”.

CNN attempted to contact Laurinaitis previously but received no answer.

New business partners.
McMahon’s departure came after WWE formed numerous profitable commercial deals recently.

This week, Dwayne “The Rock” Johnson, a former WWE wrestler, revealed his decision to join TKO’s board of directors.

McMahon announced the agreement in a statement on Tuesday. “Very few people on the planet understand the convergence of sports, entertainment, media, and business like Rock,” the former NFL player added.

As part of the agreement, WWE will pay Johnson $30 million in stock awards to help promote the brand.

Netflix recently announced that it would become the sole home of “WWE Raw,” beginning in January 2025. According to TKO’s filing, the 10-year agreement is worth more than $5 billion.

Neither Netflix nor Johnson’s reps responded to CNN’s request for comment this week.

SOURCE – (CNN)