Following recent allegations of wide-ranging sexual misconduct, Vince McMahon, who co-founded WWE in 1982, has resigned from his role as TKO executive chairman. He has also resigned from his spot on the TKO board of directors.
The 78-year-old McMahon vehemently denied the allegations made by former WWE employee Janel Grant in his resignation statement.
“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,” a spokesperson for McMahon said in a statement sent to Larry Brown Sports. “I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.
“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.”
Grant filed a lawsuit in the U.S. District Court for the District of Connecticut on Thursday after alleged missed hush money payments. McMahon had briefly stepped down as WWE chairman in 2022 while being investigated for the reported $3 million non-disclosure agreement.
Grant claims that McMahon stopped paying her after the earlier investigation, believing she had violated the terms of their agreement and leaked information to the media. According to the terms of their non-disclosure, which was reviewed by Larry Brown Sports, she was owed $500,000 on Feb. 1 of each year from 2023-2026.
McMahon had previously paid her $1 million of the $3 million that they had agreed upon.
The new lawsuit accuses McMahon and others, including John Laurinaitis, of violating the Trafficking Victims Prevention Act. Grant also claims she was used as McMahon’s sex toy and that he and Laurinaitis had unwanted sex with her at times, including threesomes.
As part of the filing, Grant included lewd text messages that also appeared to implicate other WWE employees and wrestlers.
TKO Group Holdings, created by Endeavor Group Holdings, was formed last year following a merger between the WWE and UFC.
