WWE Chairman Vince McMahon Resigns from TKO Group Holdings After Shocking Accusations
McMahon denied the allegations from the shocking lawsuit in a statement through his lawyer.
The Shocking Allegations and Vince McMahon’s Resignation from TKO Group Holdings
After shocking allegations went public against former WWE chairman Vince McMahon, Deadline reports that the controversial figure has resigned from TKO Group Holdings. In a statement, McMahon stood by a prior statement saying Janel Grant’s lawsuit is “replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth.”
Swift Exit and Major Moves for WWE
The swift exit follows some major moves related to WWE, both positive and negative for the company. The lawsuit went public the day after WWE announced their major streaming deal with Netflix for Monday Night Raw.
Slim Jim’s Decision to Pause Sponsorship and Promotional Activities
After the news broke, longtime sponsor Slim Jim paused their sponsorship and promotional activities with WWE. “Slim Jim values integrity and respect in all of our partnerships,” the company wrote in a statement. “Given the recent disturbing allegations against Vince McMahon, at this time we’ve decided to pause our promotional activities with WWE. This decision reflects our commitment to our brand values and responsibility to our community.”
The Alleged Encounters and Response to the Lawsuit
The Slim Jim decision came on the eve of WWE’s Royal Rumble, which was to feature the company’s brand in several spots. Safe to say this sped up McMahon’s exit after the lawsuit dropped on Wednesday. Detailed in the suit are alleged encounters with McMahon that were met with shock online, especially one which allegedly involved McMahon defecating on Grant’s head. Alleged texts were also included and the response quickly snowballed today.
TKO and WWE Response to the Resignation
“Mr. McMahon does not control TKO nor does he oversee the day-to-day operations of WWE,” TKO told Deadline through a spokesperson. “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.” Additionally, WWE head Nick Khan told staffers through an internal email about McMahon’s resignation, noting he “will no longer have a role with TKO Group Holdings or WWE.”
