(This story originally published on MMA Junkie sister-site WrestlingJunkie.com)
When WWE merged with UFC, Vince McMahon remained TKO Group Holding’s Executive Chairman and board member, with a public appearance on behalf of the company as recently as Tuesday at the New York Stock Exchange. It coincided with the $500 million per year, 10-year media rights deal with Netflix for Monday Night Raw starting January 2025, and Dwayne “The Rock” Johnson’s appointment to TKO’s Board of Directors.
McMahon’s standing within TKO drew increased attention on Thursday, when the Wall Street Journal detailed a lawsuit from Janel Grant, accusing the WWE boss of abusing her sexually for years, sharing explicit texts and videos of her with others, and arranging for her to have sex with other men.
Speculation surrounding McMahon’s position on the TKO board intensified, culminating Friday night. WWE president Nick Khan shared a memo with TKO staff members, revealing McMahon’s resignation as TKO’s Executive Chairman and board member.
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.
Major news. Vince McMahon resigned from all roles with TKO.
The following was sent to some staff pic.twitter.com/kTZbpooTu7
— Sean Ross Sapp of Fightful.com (@SeanRossSapp) January 27, 2024
Following this, McMahon provided a statement to Deadline confirming his resignation, saying he would “vigorously defend” himself against Grant’s allegations.
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. 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, effective immediately.
Statement from Vince McMahon via TKO:
“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. I intend to vigorously defend myself against these baseless… https://t.co/Z0bHkVwBym
— A.J. Perez (@byajperez) January 27, 2024
McMahon previously stepped down from WWE in 2022 amid an internal investigation into sexual misconduct allegations, only to return in January 2023 as a board member and orchestrator of the company’s merger with UFC to form TKO Group Holdings. With his departure today feeling much more permanent, WWE and TKO’s next moves will be worth watching.
