Vince McMahon, Executive Chairman of TKO Group Holdings — parent company of both the UFC and WWE — has resigned.
The move to step down by McMahon comes in the wake of a highly salacious lawsuit against him filed by a former employee alleging sexual assault, sex trafficking, and numerous graphic details. McMahon was the longtime head of the WWF/E (both on screen and off) and had recently returned to the company to help guide it into the merger with UFC under the TKO banner.
ESPN was among the first outlets to report the news. WWE Exec Nick Khan notified employees on Friday, stating that “Vince McMahon has tendered his resignations from his positions as TKO Executive Chairman and on the TKO Board of Directors. He will no longer have a role with TKO Group Holdings or WWE.”
McMahon had been the subject of an SEC investigation into alleged hush money payments to multiple women connected to the wrestling promotion. Janel Grant, the woman behind the current lawsuit, was among those who were paid off to keep the lurid details under wraps.
$14.6 million in settlement payments were dished out by McMahon, with Grant the first to defy a non-disclosure agreement, which her lawyers claim violate multiple federal and state laws — and was not paid in full anyway.
Among Grant’s allegations are that McMahon defecated on her head during a threesome, then forced her to continue performing sex acts while covered in feces, and that he used a number of sex toys on her — which he named after wrestlers.
WWE recently signed a new broadcast deal for its flagship program, RAW, which will now air exclusively on Netflix in multiple territories.
In a statement issued to multiple media outlets, a TKO Group Holdings spokesperson said that “Mr. McMahon does not control TKO nor does he oversee the day-to-day operations of WWE,” adding “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.”
None of the allegations against McMahon have been proven in court, nor is he currently facing any criminal charges.
