WWE founder Vince McMahon resigns from TKO in wake of sexual assault, trafficking allegations

Amid recent allegations of sexual misconduct, Vince McMahon has stepped down as executive chairman at WWE and UFC parent company TKO Group Holdings. 

In a statement acquired by Deadline, McMahon said he was resigning "out of respect" for WWE and TKO while flatly denying any wrongdoing. 

"I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name," McMahon said. 

On Jan. 25, former WWE employee Janel Grant filed a federal lawsuit against McMahon, alleging he forced her into grotesque sexual acts with him and other wrestlers in exchange for gifts and a job with the company. 

Unsurprisingly, the news shook the wrestling world and ultimately led to one of the company's longest and biggest sponsors to distance itself from the sports entertainment juggernaut. On Friday, word began to spread that Slim Jim had pulled out of sponsoring this year's "Royal Rumble," scheduled for Jan. 27. The snack company had agreed to a multiyear deal with WWE, though it's unclear whether it has cut ties completely. 

The landscape has changed significantly for WWE over the past year or so. In April 2023, it merged with TKO, the company that owns UFC, before agreeing to a massive $5 billion deal to stream "Raw" on Netflix for the next 10 years. As the company moves further and further away from the old ways, putting McMahon in the rearview seems like the next logical step forward. 

Regardless, WWE will survive. However, the trouble for McMahon appears to be only beginning. 

If you or someone you know is experiencing issues of sexual misconduct, 24/7 national helplines and resources are available through the Rape, Abuse & Incest National Network, the nation's largest anti-sexual violence organization. 

Information can be found at rainn.org or by calling 800-656-Hope.