Vince McMahon Resigns As Chairman Of TKO, The WWE's Parent Company, Amid Sex Trafficking Allegations

Vince McMahon has resigned from his position as the executive chairman of TKO Group Holdings, the parent company of the WWE.

Earlier this week, ex-WWE employee Janel Grant filed a lawsuit against McMahon that included charges of sex trafficking. The 78-year-old McMahon denied these allegations, claiming they were unequivocally false.

“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 Friday, according to Deadline. “I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.

The charges in Grant's lawsuits allege that she faced years of sexual and physical abuse while working for the WWE. Grants adds that McMahon and former head of talent relations, John Laurinaitis, abused her for their own pleasure and used her as a pawn to lure prospective talent.

Additionally, she claimed that the two men “repeatedly used sex toys named after other WWE employees, wrestlers and performers to sexually groom Ms. Grant for trafficking to those same people.” Grant also said that McMahon shared porn of her to thousands of people.

McMahon Was In The WWE Dog House Long Before This

Shortly after news of these allegations broke, the WWE's creative partner, Slim Jim, ended its relationship with the league. The company said that their decision "reflects our commitment to our brand values and responsibility to our community.”

As such, McMahon was on thin ice with TKO and the WWE thanks to the collateral damage from the allegations. That led to his resignation on Friday, despite his contention of innocence.

“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, effectively immediately,” McMahon said.

This new development caps a wild week in news for the WWE. In addition to all of this news, the company signed a lucrative broadcasting contract with Netflix. Starting in 2025, Netflix will hold the rights to WWE’s Monday Night Raw. 

That was obviously the best news, and it all spiraled downhill from there. McMahon will have quite the legal battle heading his way for the next few months.