McMahon Out: WWE founder step down amid sexual assault, rape allegations

WWE co-founder Vince McMahon resigned as company chairman and from parent body TKO Group Holdings following the rape and sexual assault allegation by a former employee while still asserting his innocence.

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WWE co-founder Vince McMahon resigned as company chairman and from parent body TKO Group Holdings. The long-term chairman quit the company following the rape and sexual assault allegation by a former employee while still asserting innocence. 

Former female employee accuses McMahon of sexual assault

A former female WWE employee, Janel Grant accused McMahon of sexual assault amounting to human trafficking in a lawsuit. As per reports, Janel approached a Connecticut court documenting physical abuse and coercion faced when McMahon was CEO.

McMahon claimed innocence against Grant's "replete lies" and "obscene fabricated instances" as a "vindictive perversion of truth". He stated his intent to vigorously defend himself against the baseless accusations and restore his reputation.

McMahon resigns WWE universe 

However, McMahon stepped down owing respect for the WWE Universe, business partners, and employees behind its success as a global leader. His departure aimed to avoid turmoil amidst the serious allegations while still claiming his innocence.

 In a statement, he said "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," McMahon added

Notably, McMahon has resigned from the WWE Universe until the allegations against him are proven wrong.

Top sponsor halts promotions

Long-time WWE sponsor Slim Jim also hit pause on partnerships in light of the disturbing charges against McMahon. They stated it reflects a commitment to brand values and community responsibility.

"Slim Jim values integrity and respect in all of our partnerships. Given the recent disturbing allegations against Vince McMahon, at this time we've decided to pause our promotional activities with WWE. This decision reflects our commitment to our brand values and responsibility to our community," read the statement.

The high-profile lawsuit presents a precipitous fall for the WWE visionary facing distressing charges he vehemently contests. However, McMahon reluctantly vacated his chair, concluding his four-decade dominance but now faces reputational crisis and legal woes ahead.