McMahon Pays Price For His Lapses And Already Left WWE
It seems possible that Vince McMahon is leaving the company.
The disgraced founder of WWE, Vince McMahon, is finally going out of business with anything WWE after more than 50 years, according to Sportico, which also disclosed that he is selling the last of his shares in TKO Group Holdings.
According to Sportico, TKO submitted a prospectus on Friday that suggested Vince McMahon might be selling all of his interests in the business, which are valued at over $776 million. The papers state that McMahon still has 8.02 million shares of the corporation.
The selling of McMahon’s shares would signify his official exit from the company and his complete dissociation from the WWE.
An important turning point in the history of World Wrestling Entertainment, Inc. was reached in 2023 when Zuffa, the parent company of the Ultimate Fighting Championship (UFC), and Endeavor merged to form TKO Group Holding.
Significant changes occurred as a result of this merger, which saw both businesses functioning as TKO divisions and ended the McMahon family’s exclusive control over WWE.
The claims of sexual abuse made against Vince McMahon
Former WWE employee Janel Grant sued Vince McMahon, the company’s creator, back in January, claiming she had experienced sexual assault and exploitation while working for the company. The former head of talent relations John Laurinaitis and WWE are also named as defendants in the case, which was filed in U.S. District Court for the District of Connecticut.
The complaint makes allegations of civil violence, intentional infliction of emotional distress, and violations of the Trafficking Victims Prevention Act against McMahon, Laurinaitis, and WWE. When Grant worked for WWE, she alleges she was subjected to years of emotional and sexual assault.
The action asks for an indeterminate amount of money in damages as well as a declaration that a nondisclosure agreement Grant signed while working for WWE is “void and unenforceable.”
Watch: Vince McMahon Sold Everything
