Pressure has mounted on Vince McMahon in recent days to stand down from his role as WWE Executive Chairman and it's now been made official.
The man who essentially created what we know as WWE today and changed the world of professional wrestling forever when he acquired the company from his father in the 1970s has resigned from all his roles in TKO, the Endeavor-owned parent company of WWE and UFC.
This comes after a series of horrifying and shocking allegations about McMahon from former WWE employee Janel Grant. McMahon stands accused of rape, abuse, and people trafficking; as of now, this is a civil matter and not a legal one.
"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 while announcing his resignation. "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, effectively immediately."
WWE President Nick Khan shared a short statement with WWE employees which reads, "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. He will no longer have a role with TKO Group Holdings or WWE."
The news broke shortly after we started hearing rumblings that Slim Jim and several other noteworthy sponsors were no longer happy being in business with WWE. Had McMahon stuck around any longer, the damage to WWE would have likely been irreparable.
With no Stephanie, Shane, or Linda in WWE, the company officially no longer has a McMahon in it (the first time in decades). Stephanie's husband, Paul "Triple H" Levesque, remains in charge of creative, however.
Despite still owning a large percentage of WWE stock, it's been widely reported that Vince no longer has the power to force himself back into the company and is likely done in the pro wrestling world no matter how hard he tries to clear his name.