Vince McMahon, the iconic figure behind WWE, has resigned from his positions at TKO Holdings and WWE amidst serious allegations of sex trafficking and impropriety. The impact of this decision is rippling through the wrestling industry, with major sponsor Slim Jim coming back to WWE after withdrawing its sponsorship of the Royal Rumble.

Former WWE employee Janel Grant has accused McMahon of sex trafficking, abuse, and sexual exploitation, leading to a cascade of events that ultimately led to TKO issuing a statement they were looking into allegations, McMahon refuting the allegations, Slim Jim and other sponsors threatening to leave, and McMahon’s ultimate resignation from TKO Holdings and WWE. It was learned on Friday that WWE President Nick Khan sent a statement to some staff stating: “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.”

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Not long after, Deadline reports that Vince McMahon released his statement:

“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, effectively immediately.”

— DEADLINE

Vince McMahon Leaving WWE Is Best For Business

With Slim Jim back in and the Royal Rumble happening Saturday afternoon, there is a reported sense of relief backstage as WWE tries to push forward towards their biggest show of the year, WrestleMania 40. This marks the first time in the history of WWF/WWE that a McMahon hasn’t worked for the company in some capacity.

With more potential allegations looming, the fate of other key figures within WWE remains uncertain. Still, it’s best to have Vince as far removed from the product as possible.

The resignation of Vince McMahon marks a significant chapter in the history of WWE, with questions surrounding the future leadership and the ongoing investigations into the allegations against him. And, will this open the door for Stephanie McMahon to return?

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