Vince McMahon resigns from TKO over trafficking lawsuit
Vince McMahon has resigned following sponsor pressure on the new parent company for UFC and WWE.
Former WWE Chairman and TKO executive Vince McMahon has resigned following sponsor pressure on the new parent company for UFC and WWE.
One of WWE’s longest running sponsors, Slim Jim, withdrew their sponsorship of the upcoming Royal Rumble amid fresh and horrifically detailed allegations of abuse of a sexual nature.
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VINCE MCMAHON RESIGNS FROM TKO AMID SPONSOR PRESSURE
Company president Nick Khan sent an internal memo which has been shared with the press.
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“I wanted to inform you that Vince McMahon has tendered his resignation from his positions as TKO Executive Chairman and on the TKO Board of Directors,” Khan wrote.
“He will no longer have a role with TKO Group Holdings or WWE.”
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The bombshell lawsuit from former WWE employee Janel Grant has been in the works for some time but once details of the suit leaked this week it became impossible for TKO to have McMahon employed in any capacity.
‘VINDICTIVE DISTORTION OF THE TRUTH’
McMahon has issued a statement denying the allegations against him.
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“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,” McMahon said.
“I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.
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“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,” the former Chairman of the Board added.