RW/MediaPiunch/IPX by way of AP

WWE co-founder Vince McMahon resigned from his position as executive chairman on the WWE and UFC parent firm TKO Team Holdings on Friday following accusations of sex trafficking and abuse.

McMahon announced his resignation on Friday evening, insisting that whereas the allegations were “replete with lies,” he would depart his position out of recognize for the corporate.

“I stand through my prior commentary that Ms. Grant’s lawsuit is replete with lies, obscene made-up cases that never occurred, and is a vindictive distortion of the truth,” stated McMahon. “I intend to vigorously shield myself against these baseless accusations, and look forward to clearing my identify.”

He continued:

On the other hand, out of respect for the WWE Universe, the phenomenal TKO business and its board individuals and shareholders, partners and elements, and all of the staff and Superstars who helped make WWE into the worldwide leader it’s these days, I have decided to resign from my executive chairmanship and the TKO board of administrators, effective immediately.

WWE president Nick Khan validated McMahon’s departure in an electronic mail to staffers, declaring that McMahon would “not have a role with TKO Staff Holdings or WWE.”

McMahon’s resignation got here simply in the future after a bombshell lawsuit accused him of intercourse trafficking and assaulting one of his workers.

In her lawsuit, Janel Provide accused McMahon of locking her in a room and sexually assaulting her, defecating on her head, and trafficking her to others at WWE after she used to be hired by way of the corporate.

Whereas Supply signed a non-disclosure agreement in 2022, she alleged that McMahon had didn’t pay her the entire quantity of $three million said within the agreement.

McMahon – who famously had his head shaved by former President Donald Trump throughout WWE’s “Struggle of the Billionaires” experience in 2007 – has had a shut relationship with the 45th president.

McMahon’s spouse, Linda McMahon, used to be appointed administrator of the Small Business Administration by way of Trump in 2017.

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